Credit file seperation.

What do you mean separate them? Credit files are always separate. You and your ex do not have a "joint" report - no such animal.

 

As jlynn said, you both already have your own individual reports; there are no joint reports. I think what you're really asking is, "how do I prevent her from ruining my credit by racking up bills on our joint accounts?"

The answer is to call the financial institution and remove yourself from the account. If it's a joint credit card, for example, remove yourself and leave it in her name alone. She will not need to agree to this or sign any paperwork; you're simply effectively cancelling your banking relationship. Do the same for your utilities, checking accounts, and so on.

 

Some Real estate lenders lump both reports into one.So you have to ask to separate the accounts into 2 separate.Just happen to me.

 

I'm not trying to be a smartass, but which lender has authority over a CRA? I can see them reporting the same info to both credit reports, but I can't see them creating a third report containing both names. Doing so would mean that my joint applicant and I would have two credit reports each, and that just sounds like it's ripe for fraudulent activity.

 

No your not a smartass,I'm telling you what happened to us.It was through a info company that the mortage company used it was a combined 3in1 report.Iasked them to pull from a cra that furnished the info to that company.Just the facts unlike the creditors.

 

That is totally untrue. Most creditors will make the person who is going to remain responsible agree to be solely responsible for the debt. In addition, they will have to qualify for that account on their own.

If you are an AU you can just call and have yourself removed, but not if you are actually joint on an account. A JOINT account means just that--you are both subject to all terms and conditions (jointly and severable liable). If a person is removed, it is renegotiating the contract and all parties have to agree.

 

Thank you hedwig as you know i just report what happens to me.I leave the good stuff for the guru's

 

There is a space in the divorce papers for outstanding debts. Make sure that that part is completed for ALL the debts, and assigns responsibilities to one or the other. Do not leave any of them as -joint- responsibility, it will only come back and bite you later!

The divorce papers are court documents and will stand up in court to absolve you of any responsibility for the debt (since they have to be co-signed by your ex) despite any contracts or other papers the creditor may have, provided that those divorce papers are dated _after_ any such signed contracts.

Make sure that -all- your credit cards are listed as your individual responsibility, and that all the cards that you know of that your SO has are listed as their responsibility. That way there can be no misunderstandings later about who is responsible for what.

Oh, and check carefully to see if you have co-signed any of those accounts, which being the case, make it a condition of the divorce that the account be closed or that your SO re-negotiates the contract to be the only responsible party to that account. (trust me on this one!!!)

 

No, they won't. The divorce papers only mean that you can sue the other party (your ex) if the debts aren't paid.

Creditors are not bound by divorce decrees. The only way to be absolved of the debt by the creditor is to work with them to get your name removed.

For example, if it's a mortgage, the person who will retain the property must refi to remove the other party's name.

No creditor is bound by a divorce decree.

 

So true Hedwig.....

After a nasty divorce in 1999 I had a car that was listed in my ex's name. I was rewarded the car in the papers. When I called the finance company to get my name added and his removed they would not do it. I had to go get another car and give the ex that one back which he sold.

We were also joint on a couple of credit cards, I was primary (higher income) he was a AU. He had ran a couple up without my knowledge. In the papers he was supposed to take responsibility & he let them go without making any payments. I called the CC issuer & told them he was ordered to pay them. I got told it was my responsibility regardless & to sue him. I had them shut down and had to take responsibility for them.

I wish I would have known all that ahead of time.

Get all this stuff worked out now, you'll be glad later you did.

Tegleg

 

Interesting. I never would've known. I've personally had myself removed from a joint checking account without any hassle. Maybe their software automatically verified that the remaining individual was able to handle the account on her own and nothing was ever said to me.

At any rate, HAZ, as others have said, now is the time to get the ball rolling on all of this. The sooner you start the better.

 

Well, I can tell you that BoA won't remove you without one of two things: a death certificate or a notorized statement from the one party that they won't be responsible and from the other party that they will. Then they have to determine if the remaining person is capable of handling the account.

I had to walk away from several accounts with 30+ year history because of this.

 

Checking accounts are quite different from credit accounts. With a checking account that is your money. With a credit account, you owe someone money, and they aren't going to let you off the hook simply by asking.

If the credit card account is at a -0- balance, then it usually isn't a problem. But to the OP, I would follow up any phone call requests with written confirmation via certified mail. You never know what might happen, and it doesn't hurt to have a paper trail.

 

When my wife and I divorced in 2002 we had one joint credit card. Even though I was sentenced (in the divorce) for the joint liabilty towards this account - only about a $150.00 balance I was able to obtain a card in my name only and that balance transferred.

 

Be careful in the pulling of your ex's credit report.

It's a question of authorized access to that report.

In a divorce situation, it is best to go by the book.

Get written permission to do the pull.

 

Ooh, good point. He has no pp to pull.

 

True. And what does it matter what shows on HER report. You want to worry about what's on YOUR report. If an account is joint, it will report as such on your report.