Is spouse responsible for credit card debt in Florida?

When spouses have joint credit cards, car loans, and mortgages together, it is considered marital debt. Under Florida law, both spouses would be responsible for this type of debt.

Can I freeze a joint credit card?

Most creditors won’t let you close an account that has an outstanding balance. In these instances, you should request that a freeze be placed on your account to prevent future charges. Even though you will still be jointly responsible for the existing balance, no further debt can be added to the account.

Can a joint credit card account be closed with a balance?

Closing a joint credit card account can be tough particularly if the account still has a balance. Some credit card issuers require the balance be paid off before the account can be closed. Even if your credit card issuer allows you to close the account with balance,…

What happens to a joint credit card after a divorce?

Because the new accounts won’t be joint, the transferred amount will be the liability of each individual ex-spouse. As long as the joint card is paid down by the transfers and then closed, this will result in a separation of the two ex-spouses’ debts.

Who is responsible for paying off a joint credit card?

If your teen is added as an authorized user, he can use your credit card account but ultimately is not responsible for paying the bill. Partners who have a joint credit card account are equally responsible for paying off the balance. For this reason, it’s important to trust the person you open a joint account with.

What does it mean to have a joint credit card?

A joint credit card account allows you to be a co-owner of a credit card with another person, such as a spouse, close friend or family member. Sharing a joint credit card account is different from adding someone as an authorized user to your account.