The question what to do about joint credit cards, the debt associated with them & the buying power they offer. These are legitimate concerns that a skilled San Antonio Divorce Lawyer can help you address. To be honest the only question about property division that is asked more often is how the marital home will be divided. Let’s first talk about closing the credit cards.
To close joint credit cards and the like, formally write the creditors and notify them of the intent to file for divorce.
Request that the account be closed and that the cards be canceled. Ask them to provide a current statement of account and make them aware of the fact that you do not intend to be held liable for any and all debt accumulated after the date of the written letter. It is wise to send these letters by certified mail to retain proof of receipt by the creditors. In some instances, the creditor will ask that the outstanding balance on an account be paid in full. If it is possible to comply with this, then do so. If not, at the very least, have them place the account on inactive status so that no new additional charges may be added and stipulate that once the balance is paid in full, the account is to be closed completely and forever.
What if you want to keep the credit cards?
This becomes a risk but is possible if your spouse agrees. What I would do is first consider whether or not the card has debt associated with it. If the card has a small or zero balance contact the credit card provider and ask them to open a new account in only your name or remove your spouse from the account & the issue a new credit card number. Be certain to cancel the old credit cards.
What if you have multiple cards all with debt?
This is another common issue people face when dissolving their marriage but if both parties are responsible we can quickly divide the debt based on many things such as income of each person, & the division of other assets.
You have two options when ending your marriage, you can hire a skilled San Antonio Divorce Attorney or you can represent yourself. Either way you should take advantage of my free consultation by calling 210-338-8225.