We recently met with a client who reminded us of the importance of protecting your identity when going through a divorce. The client came to us after having received several calls from a debt collector for a credit card he had never owned. After some investigation, the client realized that his now ex-wife had opened a credit card in his name, had run up the balance and was not making any payments.
He is now being harassed by debt collectors. And, after pulling his credit report has confirmed that the credit card company is reporting the delinquency on his credit reports. This negative information on his credit reports has damaged his hard earned credit making it more difficult to obtain a loan at the interest rate he deserves. He has contacted the creditor repeatedly and they refuse to rectify the situation insisting that he owes them the money.
In order to protect yourself when getting divorced, you should consider pulling your credit report frequently during this process. All of the credit reporting agencies offer some sort of credit monitoring program where you can pay a monthly fee to be able to monitor you credit report. You may also want to consider attaching a fraud alert with the credit reporting agencies, which will require you to be contacted before a new credit card or loan can be taken out in your name.
Another resource for you is to join our Facebook Fan Page – Alabama Consumer Protection Attorneys where we share useful information about the same types of issues that we cover in this blog.