Many married couples have at least one shared credit card.
If you are divorcing, it becomes one more thing to add to your list of issues to sort out.
So what are your options?
If you can afford to pay the credit card off from a joint bank account, then agreeing to do so and then closing the card account simplifies things. Yet sometimes that is not an option, as you do not have the spare cash to cancel your credit card debt. What then?
Joint cards are typically joint debt
Under Nebraska laws a judge would usually consider your joint credit card debt to be the responsibility of both of you. So, when you divide your assets, you’ll also need to divide your debt too.
Perhaps the property division process frees up money to pay off the credit card or perhaps you each need to take out separate personal loans to pay off your share of it. However you do it, you need to settle the joint card account so you can separate your financial affairs. You do not want to keep a joint account open after divorce.
What if you don’t think that’s fair?
If your spouse went on a spending spree with the joint card just after you had filed for divorce as some kind of revenge, then a judge may take that into consideration. You would however need to be able to argue a good case as to why it is not joint debt.
As with all divorce matters, getting legal guidance can help you understand your rights and options.
