Expert: Equality in Marriage Institute - 4/27/2005

Question
-------------------------
Followup To
Question -
My ex and I opened a credit line in 2002. In 2003 we were divorced, In our divorce decree it states that He is to take over the credit and not hold me liable. I am the primary holder on the acct. Well, I had no knowledge of this acct again until yest. I got a bill for 10,000. The creditor said that it was under some kind of debt mgt prog. but the card is still in my name. He is willing to take over the card but The ccomp. is giving me a hard time. I dont know my rights and am terrified. He has run up this bill and if he doesnt pay it I am stuck with it right? Is there anything that can be done about this? HELP!!!
Answer - He is making payments through debt counseling service. He is willing to take over the card under his name but I just don't know how we go about this. I can't get a straight answer from the credit card company. any sugg? Yes he is making pymts now but I want to get it out of my name in case he decides to stop making pymts all of a sudden.
Dear Patricia,

The answer to your question as to whether the debt is yours, YES. Unfortunately the removal of your name did not occur when you assumed it would, hence you are ultimately responsible. As you had agreed, in your decree- your ex would take the credit card and not hold you liable. No one told the credit card company this and no one removed your name. What you will want to do is send, in writing an acknowledgemnet of the debt and it's being paid back in full AND that you wish to cancel the card or halt all charges from here on out. A copy of this letter should be sent to your ex as well. I would recommend that you  contact the credit card compnay to find out what paperwork you need to send them to cancel the card and then your spouse can open a new credit card under his name only. In the meantime demand that your ex make a payment on this debt. For good measure obtain a copy of your credit report to see if there are any other debts that you are aware of.

I hope this was helpful.

Answer
Dear Patricia,

When in doubt do two things put it in writing and ask for the next person in charge.

Send a letter by certified mail identifying yourself as the owner of the account and state that you want your name removed from the account. OR cancel the account and have your ex open a new one in his name only.

ALSO when on the phone with someone who is not offering you straight answer- ask to speak with their manager and if that gets you no where then speak to manager's manager.

You may also want to read the fine print on the credit's wesbite on on the information you received with your credit card. It will have say how one terminates or "cancels" the card. Ask to recieve, by mail, a confirmation of your cancellation or transfer.

If that doesn't work call the Better Business Bureau.

I hope this was helpful.