Posted on 03/01/2006 7:30:39 AM PST by sedonaApps
How would one go about introducing (or gauging support for) a law/regulation that would require credit issuing companies to remove items from someone's credit report based on the terms of a divorce decree?
The thought being that it is too easy for one party in a divorce to ruin the other's credit by simply not paying under the terms of the decree. Obviously there would have to be some sort criteria for what debts would qualify, but for now I am just curious as to how things like this get proposed to people that can explore it further and have the power to move on it if a viable solution is found.
Any ideas?
scanning for ozone
You are allowed by law to include a letter in your credit history jacket explaining any adverse credit items. Have the decree and a letter of explaination put in your credit history files, and sue if you are denied credit because of those items.
However, you're probably peeing in the wind, because the CC companies and the banks have large lobbying efforts to assure that they have the most options available to make the collection. The assumption is it took two to make the debt and enjoy the spoils of it, then it should be the two, even if divorced, to pay for it, if it was a joint account.
Thankfully when my first marriage fell apart, we were able to pay off all debts or refinance them under our own names and move on without being able to destroy the other person credit or have a company seek $$ that the other spouse agreed to pay.
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