When people divorce, they sometimes think that they will be done with each other as soon as the ink on the divorce decree dries. Sadly, that isn't always how it works. Couples who have children together will still have to deal with each other after the divorce. Couples who have debts to split as part of the divorce settlement might find that they have to continue to deal with each other. In the case of one Ohio woman, her ex-husband was ordered to pay for one of their credit cards and failed to do so. She is now having to deal with the aftermath of the situation.
The woman and her husband divorced in 2009. She says that she was the primary account holder of a credit card with a $20,000 balance, but that her ex-husband was the one who was responsible to pay for that card. He allegedly hasn't paid the debt. He also hasn't paid for a mortgage on the home he lived in, which resulted in foreclosure.
Recently, the woman enrolled in a debt management program. She called the credit union and found out that they intend to sue her for the $20,000 credit card debt that he hasn't paid. She says she hasn't heard from the credit union in four years. They offered her a settlement of $6,435 or $535 per month for a year. She can't afford that amount unless she uses her 401(k) plan.
For this woman, splitting debts as part of her divorce settlement didn't have the outcome she likely thought it would. If you are facing a divorce and have considerable debts, you should make sure that you understand your rights regarding those debts, since you might be held liable for them if your ex fails to repay them. Seeking the assistance of an Ohio divorce attorney might help you to explore your options regarding dealing with debts during and after the divorce.
Source: Fox Business, "After Divorce, Ex Leaves Joint Debts Unpaid" Sally Herigstad, Feb. 28, 2014