When you are going through a divorce, there are several important considerations you must make, as this is an incredibly complicated process. If you are going through these matters, you may be focused on determining how assets are split or how you will handle custody. However, one thing you may not have considered is whether or not you should continue using a spouse’s credit card during your divorce. The following blog explores these matters in further detail and explores why connecting with a Nassau County property distribution lawyer is in your best interest to help you during these complicated issues.
Should I Continue Using My Spouse’s Credit Card?
In general, it’s not recommended to continue using your spouse’s credit card during a divorce. This is because they may try to accuse you of overspending as a means of getting back at them, and if this is true, you can be left to foot the bill. Additionally, this can hurt your credibility in court.
Generally, if you are an authorized user on your spouse’s credit card account, they will likely revoke your access, which they are within their right to do so. If they do not, you can call the credit card issuer and ask them to revoke your access. This may lower your credit score slightly but if your spouse misses a payment it can significantly impact your credit.
In addition, if you and your spouse have a joint credit card opened in both of your names, you may decide that closing the account is in your best interest. However, if you have children, you may wish to leave it open to continue making purchases in relation to your children, such as school supplies, extracurriculars, and groceries. If you decide to pursue this option, you may want to create an agreement limiting the purchases you can make with the card and your responsibilities for making payments.
What Happens to Accumulated Debts?
Generally, when you and your spouse have accumulated credit card debt, it will be distributed according to each of your contributions to the debt, much like equitable distribution for assets. As such, if you have $10,000 in debt, and you are each responsible for an even portion, the court will have both of you remain responsible for half. However, if you rack up $8,000 of that $10,000, the judge assigned to the case likely will not make your spouse pay for your purchases.
As you can see, there are several important considerations you should make regarding your credit cards when you and your spouse are going through a divorce. Though this can be an overwhelming legal matter, connecting with an experienced attorney from Barrows Levy PLLC can help make this process go much smoother. Our team is committed to helping you explore your legal options so you feel confident in your future. Contact us today to learn how we can assist you.
