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Building Credit In Your Own Name After A Divorce

 by: Michael Saunders

If you are married, separated, or divorced, and most of the credit you obtained is in your spouse's or ex-spouse's name only, you should start to get credit in your name, too.

Getting credit in your own name is also an excellent strategy for repairing your credit if:

a) All or most of your financial problems can be attributed to your spouse, or

b) you and your spouse have gone through financial difficulties together, but most credit was in your spouse's name only.

In order to understand how this works, you first must learn about which of your spouse's accounts can appear on your report. Here are the rules:

Credit bureaus must include information about your spouse's account on your credit report in two situations: (a) you and your spouse have a joint account (that is, you both can use it), or (b) you are obligated (responsible for paying) on an account belonging to your spouse, even if your spouse is the primary signer on the account.

Credit bureaus cannot include information about your spouse's account on your credit

report if the account is not joint and you are not responsible for paying the account.  (continued...)
Building Credit In Your Own Name After A Divorce
  Page 2

About The Author

Michael Saunders has an MBA from the Stanford Graduate School of Business. He edits a site on Credit Repair and Debt Consolidation and is president of Information Organizers, LLC.



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