Does settlement partial payments of credit cards affect getting a mortgage ?

Pringle780

The mortgage would hopefully be in the near future, but I don't want the partial payment requested by my ex to spoil the prospect of me owning my own home

National_Debtline

Pringle780 wrote: »

The divorce court decreed that we both pay half of the credit debit. But my ex only wishes to pay a partial payment to close the accounts, but I'm worried it will affect me getting a mortgage. The accounts are in my name and my ex was add. Just wondered if it was best to push for us both to pay them off in full so that I'm not left with a very poor credit rating, when the debt involved both of us!

It's worth pointing out here that court settlements like the above cannot override the fundamental liability issues at play. It seems Pringle's ex was merely an additional cardholder on these accounts, as opposed to a co-borrower. This means that however the cards were used, and by who, liability to pay the balance would fall solely on Pringle's shoulders.

The creditors themselves are not expected or required to have any regard to the terms of a divorce settlement like this one. For example, they (the creditors) could legitimately sue Pringle if the ex's failure to pay their half led to Pringle missing payments and ultimately defaulting.

This can seem unfair on the principal cardholder, and maybe it is. But that's the situation, for better or worse.

Pringle may be entitled to take action against his/her ex for a breach of the court order, but that is a separate matter.

Dennis
@natdebtline