Volvo P1800
Below, you'll find extensive information on leading Volvo P1800 articles and products to help you on your way to success.
Divorce And Credit–are You Liable?
By lar
Bill and Susie recently divorced. Their divorce decree stated that Bill would pay the balances on their three joint credit card accounts. Months later, after Bill neglected to pay off these accounts, all three creditors contacted Susie for payment. She referred them to the divorce decree, insisting that she was not responsible for the accounts. The creditors correctly stated that they were not parties to the decree and that Susie was still legally responsible for paying off the couple's joint accounts. Susie later found out that the late payments appeared on her credit report.
If you've recently been through a divorce - or are contemplating one - you may want to look closely at issues involving credit. Understanding the different kinds of credit accounts opened during a marriage may help illuminate the potential benefits - and pitfalls - of each.
There are two types of credit accounts: individual and joint. You can permit authorized persons to use the account with either. When you apply for credit - whether a charge card or a mortgage loan - you'll be asked to select one type.
Individual or Joint Account
Individual Account: Your income, assets, and credit history are considered by the creditor. Whether you are married or single, you alone are responsible for paying off the debt. The account will appear on your credit report, and may appear on the credit report of any "authorized" user. However, if you live in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, or Wisconsin), you and your spouse may be responsible for debts incurred during the marriage, and the individual debts of one spouse may appear on the credit report of the other.
Advantages/Disadvantages: If you're not employed outside the home, work part-time, or have a low-paying job, it may be difficult to demonstrate a strong financial picture without your spouse's income. But if you open an account in your name and are responsible, no one can negatively affect your credit record.
Joint Account: Your income, financial assets, and credit history - and your spouse's - are considerations for a joint account. No matter who handles the household bills, you and your spouse are responsible for seeing that debts are paid. A creditor who reports the credit history of a joint account to credit bureaus must report it in both names (if the account was opened after June 1, 1977).
Advantages/Disadvantages: An application
Our objective is to provide information you need about Volvo P1800 so you can get on the road to taking action right away. The icoolauto.com web site provides a ton of information about Volvo P1800. In addition, you will find extensive information on leading Volvo P1800 to help you on your way to success.
Please have a look at our Volvo P1800 articles, products, resources, and additional information located throughout icoolauto.com.
We strive to provide only quality articles, so if there is a specific topic related to Car that you would like us to cover, please contact us at any time.
And again, thank you to those contributing daily to our Volvo P1800 web site. |
