Taking a small step

iVillage Member
Registered: 10-07-2004
Taking a small step
3
Thu, 10-14-2004 - 8:16pm
Ok, I have secured debt with my ex husband. Debt was to be his after the divorce but of course, he's an @ss. Anyway, I contacted Americredit, who the loan was with. The balance is $334,00. They said they would issue a single party release if I paid 1/2 of the debt in one payment. I basically asked them if they were drunk. In no way should I be responsible to pay 1/2 of his debt AND then have my credit report say "settlement paid in full - single party release". First off, I can't pay that and secondly, their statement would hurt my credit report more than it already is. I asked him about less the amount. He said that he could take my offer, submit it and get back with me. Funny, I was mysteriously disconnected by the collection agency. I guess he realized I don't have money to pay him. I called Ameribank first though. They would not work out any arrangements with me because the debt was turned over the collection agency. So, how should I proceed? I don't want to do bankruptcy but it's looking almost like the only solution. So, here's where I'm angry. My ex demanded to keep the car after the divorce and said he'd pay the bill. He got drunk, wrecked it and after insurance paid, he still had this balance. Only one payment has been made on this account and that was by him last year. Why should I pay 1/2 of his bill? Yes, it will release me from my obligation but it will also HELP him!!!! He owes ME $20,000 in child support. Why would I want to make his life any better? BUT, I need to repair my credit.

Thoughts?

Sheila

Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Fri, 10-15-2004 - 8:22am

I really don't know the answers to your questions, other than have you checked on taking him to court for the child support or with the child support enforcement agency?


As I have not had to deal with ex's and stuff I don't know how it all works.

Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Fri, 10-15-2004 - 11:16am

Hi there - in addition to the Debt Q&A Board the Becky suggests above, you may also find the answer on the Divorce and Money Board: http://messageboards.ivillage.com/iv-mldivorce


Hope that helps!

All my best,
Danni
cl-phocid, Debt Support Group


Is it snowing in your wallet?

All my best,
Danni

iVillage Member
Registered: 04-07-2003
Fri, 10-15-2004 - 8:47pm
Unfortunately, since you are one the account, you are also responsible for the entire sum even though you ex ageed to pay it. Even if it is in the divorce degree that he is to pay it, this does not supersede the agreement you made with the original creditor. This is why attorneys advise couples who are in financial trouble to file bk prior to getting a divorce because if either party files bk after the divorce, the creditors can go after the party that doesn't file for bk if it is a joint account. Its probably not what you want to hear.