Answers about Credit Reports

Can the bank report information on a debt of my ex-spouse on my credit report?

Yes, if the loan was a joint account. Joint credit account holders remain liable on the account until the debt is satisfied or some other manner of release occurs.

When married joint account holders get divorced, the following factors apply:

  • The terms of a divorce decree do not affect the legal obligation of both parties to repay the debt.
  • Although the creditor may agree to release one party, it is not legally required to do so.

June 2017