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How to manage joint credit card debt in divorce

On Behalf of | Apr 23, 2020 | Divorce |

Like many married couples, you may have taken on joint credit card debt for a variety of reasons. Maybe you used your credit card to make large purchases. Or maybe it was necessary to get you through a rough patch in your life, such as a bout of unemployment.

Regardless of why you have joint credit card debt, it has the potential to complicate your divorce. Fortunately, there are steps you can take to help you better manage this part of your finances:

  • Tally your joint credit card debt: This is easy enough if you only have one credit card, but can take more time if you have multiple cards. Make sure you have a clear idea of exactly how much joint credit card debt you’re carrying.
  • Don’t add to it: Once you decide to divorce, you should stop using joint credit cards. Doing so can cause additional trouble, such as if you don’t agree with a purchase that your soon to be ex-spouse made.
  • Pay them off before you divorce: If you have enough money in the bank, talk about paying off your joint credit card debt. It’s one less thing that you’ll have to figure out in the future.
  • Separate the debt: If you can’t or don’t want to pay it off, split the debt down the middle with the help of a balance transfer credit card.

Joint credit card debt can complicate your divorce, so don’t wait to devise a plan for dealing with it. With laser focus on property and debt division, you’ll find it easier to protect your legal rights.


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