When a marriage comes to an end, things can get quite complicated. If you own assets as a couple, hold debt together or have children, divorce is even more difficult. Sometimes circumstances dictate a formal separation before you're ready to get a divorce. Marriage laws vary from one state to another. Some states may not even have a legal separation status or process and whether you can become legally separated or not may not matter completely to debt collection agencies.
Remove Your Name
If your name is on a rental agreement or lease, credit cards or other accounts that can have additional debt added, you need to remove your name from the account as quickly as possible. When your name is on the account, you can be held legally liable for the debt incurred even after you have separated.
Make Copies
Make copies of all account agreements and balances, bank account statements and anything you own jointly, such as a home mortgage or a car that you are still making payments on. If you come to a personal agreement with your spouse about which one of you will take responsibility for specific debts, get the agreement in writing.
Separation Specifics
If you live in a state that recognizes legal separation agreements, be sure to list specific debts and repayment responsibilities in the separation agreement. Listing debts and individual responsibilities on the legal paperwork can help protect you in the future if debt collectors come calling.
Debt Collection Realities
Unfortunately, regardless of what agreement you come to with your spouse privately, through legal separation paperwork and even through legal divorce settlement papers, some debt collectors may continue holding you responsible for payments. Separation and divorce agreements are legal contracts between a husband and wife and the state government. Creditors are not usually involved in making these agreements and they may continue viewing both the husband and wife as financially responsible for the outstanding debts.
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