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Ex wife ruined credit, am I liable and how to fix my credit score?

Wed Jun 20, 2007 10:06PM | By Tony

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Q: I divorced several years ago. A few years after the divorce I found out my ex wife had two credit cards, one with me as the primary card holder, the other with me as an authorised user. Our divorce was quite messy, and I suppose, she forged my signature to get new cards. Not sure, but the last thing I expected, is to have to fix my credit scores. There are few thousands charged on each card. My ex wife remarried and moved to Canada, and then France. Few days ago I received letters from both companies, notifying me that she stopped paying almost 9 months ago, and now I have to pay. I moved twice in the last 15 months, and the letters just found me. I checked my credit report, and my credit is ruined. The scores are 575, 584 and 601. The first question is if I am liable for these credit card debts and if so, am I liable for the total amount on both the cards? The second one is how can I fix my credit?

A: The credit card debt where you are only an authorised user shouldn't be your responsibility. Write a letter to the credit card company and request proof showing that you owe this debt. If they do not comply, write to the Federal Trade Commission and State Attorney General and file a complaint. The second card with you as a primary holder is unfortunately likely to be your responsibility, unless you can proof an outright fraud, that your wife opened it after your divorce, forging your signature, etc. If not, try to settle with the card issuer. You may have to write few letters.

As far as fixing your ruined credit score, you can do it, but that will take time. Start by disputing credit report with credit reporting agencies. Mail a copy of your divorce settlement, pointing out that credit cards were opened after you divorced. It may take a while, my guess up to 2 - 3 months, but you will fix your credit eventually. I will elaborate more on the credit fix shortly.

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