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"I hear from many separated, divorced, and divorcing people
whose ex-spouse has intentionally wrecked their credit."
- Ilyce R. Glink, author of
100 Questions You Should Ask About Your Personal Finances
Credit agencies separate individual credit from joint credit,
so as long as you have your own income, you can have your
own credit history--even if you take your husband's last name.
When creditors make reports, they are required by law to report
information on joint accounts in both of the individual's
names.
So, for example, if you had great credit before you got
married but opened joint accounts with your husband and then
found out he had bad payment habits, the information from
your joint accounts will end up on both your joint report
and on your individual credit report.
If you are currently divorced or just starting down that
road, consider the following:
- Make sure that bills are being paid on time for joint
accounts--even if it's been deemed your (ex) husband's responsibility.
This includes your mortgage, loans, as well as your credit
cards.
- Ask creditors to close your joint accounts, or convert
them into new individual accounts under your name. Or, just
open new accounts under your name.
- If you never applied for credit before your marriage and
then revert to using your maiden name after your divorce,
you may not have any credit history at all under your maiden
name. Request that joint account information with your former
husband be transferred into an individual account under
your maiden name.
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