*With credit approval for qualifying purchases made on The Home Depot or EXPO Design Center Consumer Credit Card. Offer valid for consumer accounts in good standing; 6 months everyday credit offer is subject to change without notice.12 MONTHS SPECIAL FINANCING* on installed fencing purchases of ,999 or more. No interest if paid in full within 12 months* on installed fencing purchases of ,999 or more.This is why divorce attorneys, financial planners and credit counselors recommend that you leave your marriage with no joint debt.By either paying off the joint cards together or dividing up the debt on joint cards and transferring it to cards in each partner's name, the goal is to remove your liability for your partner's debts.
Credit card companies aren't bound by divorce decrees, so they can go after you for jointly incurred debt if your former spouse doesn't pay.
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If not, get help from a mediator or a financial planner, which is cheaper than an attorney." The basics Debt incurred during a marriage is generally the joint responsibility of both parties, as long as both are co-signers on the credit cards, says Bill Glassner, a financial planner with Glassner Carlton Financial Planning in Cedar Knolls, N. "However, if the credit card is in one spouse's name but the other is just an additional cardholder, that spouse isn't responsible.
" One exception is community property states, where both are responsible, even for debt incurred by one partner.