The divorce process is not just an emotional challenge. It’s a logistical one, too. However, it’s essential that you ensure that you won’t be burdened with your ex’s debt while sorting out who gets what.
If you have set up joint accounts with your spouse and are going through a divorce or have recently divorced, it is important to be mindful of the transactions, especially when you are the primary cardholder.
As every case is unique and these issues tend to be sensitive, it is better to have an attorney who can educate and guide you to achieve what is in your best interest. Schedule a free consultation with Turner-Monahan, PLLC., Fort Worth, Texas, at https://tumolaw.com/contact-us/, and discuss your case in detail.
The Primary Card Holder
In the video, Managing Partner Tyler Monahan of Turner Monahan PLLC discusses that in regards to the payment of joint accounts and debts, people often run into the problem of having credit card debt that is solely in one person’s name.
A primary cardholder whose name is on the card can have others sign it. Unfortunately, while the court can order the other party to pay, one person will be liable only to the credit card company.
So if you’re in a situation where you’re looking to try to prevent a circumstance like that or to have it where both parties could be liable at the end of the day to whomever the lienholder or their credit lender is, make sure that both parties are primary cardholders.
In this way, both primary cardholders will have their credit reports and financial and income history. It will help determine the creditworthiness for whatever loan it might be to try to have both persons be liable for that debt at the end of the day.
Why Do You Need An Experienced Fort Worth Divorce Attorney?
Every family case is different because of the details and occurrences that might not be common. Due to this, finding relevant answers and taking the right actions can become quite difficult. It is better to gain knowledge from authentic sources to proceed proactively, which will help you achieve what is in your best interest.
An experienced attorney who has tackled divorce cases for years will be familiar with all sorts of issues and solutions that can save time, cost, and effort. At Turner-Monahan, attorneys are familiar with all sorts of cases.
Whether it’s divorce, custody battles, or cases where the couples open up joint credit cards, it becomes difficult during the divorce in terms of who will be paying for the debt accumulated on the card. So, if you need assistance with it, you can contact attorney Tyler Monahan and schedule a free consultation.
In addition, you can read through the blog posts to learn information about “How to prepare for court?” or “Does a spouse have a right to property that the other spouse inherited before the divorce?” on our blog.
Disclaimer
The commentary and opinions are for informational and educational purposes only and not to provide legal advice. You should contact an attorney in your state to obtain legal advice concerning any particular issue or problem. You can become a client and enter the attorney-client privilege only after hiring Turner-Monahan, PPLC, by signing a written retainer agreement.
