Divorce Situation Example - Part 3

If one of the "Ex's" decides to punish the other for going through with the break
up, it may happen that the account(s) will be charged to the limit...

In some cases, an increase in the joint account credit limit will be asked for (without informing the co-signer) and then the Higher Earner/Big Spender will file for bankruptcy so that the "Ex" suffers. With the bankruptcy, the "Big Spender" gets a fresh new start, and the "Ex"(co-signer) who didn’t get to enjoy the shopping or the new stuff, does get the high bills, the collection calls, and the loss of credit, or increased cost of credit and other kinds of stress or deprivation.

If the "Big Spender" uses a joint account for their own sole benefit, that is a breach of fiduciary responsibility in most states. When a joint account is used to buy a car, or furniture, or rent a residence – or maybe even buy a house (with no benefit to the "Ex") - that’s legally and morally wrong! You don’t have to just ‘take it’. You can fight back to recover value that has been stolen from you and you may be entitled to ‘punitive’ damages ordered by the court to be paid to you.

There are 2 main ways you can protect yourself.

1. If the damage is less than $7,500, you can most likely go to Small Claims Court.

2. If the amount you are having dumped on you is more than $10,000, you need to see a litigator who has experience in credit damage recovery (See our Resources page).

You have the power to protect yourself, your family and your credit future. This is a simple, low cost power that only works if you use it.

To immediately stop credit punishment, protect your credit opportunities, and lower your credit costs, we have created these simple but powerful books and forms for you to use for your specific needs.