Many people are unaware of the fact that even after divorce, they can end up being responsible for their ex’s debt. Most couples join accounts when getting married. There may be no debt in the joint account when you divorce, but even after getting a divorce, if you don’t take your name off of the account post-divorce, you increase the risk of sharing your ex’s debt. Removing your name from a joint account may be difficult sometimes, and if you haven’t done so, then a debt may be piling up in the account without your knowledge. In addition, if the bank doesn’t have your current address or information, the debt has piled up to a substantial amount before you found out about it.
Although you are divorced and legally have nothing to do with your ex, if your ex resorts to IVA, DRO, or bankruptcy, you may be left responsible for the bill. Thus, make sure you become completely independent from your ex and really take time to resolve any issues relating to your ex that may come back to hurt you.
For further information regarding divorce and more please contact the Family Attorneys for Newport Beach at 714-971-8000. Call today for your free 60-minute consultation!