What are the rules regarding a joint line of credit after a divorce has been filed?
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What are the rules regarding a joint line of credit after a divorce has been filed?
My husband took $30,000 out of the joint line of credit after he filed for divorce. The divorce papers state nothing about the line of credit. Can I use the line of credit?
Asked on September 2, 2011 under Family Law, Maine
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
Yes, I am sure that you can but why would you want to incur any more dent with your name on it? I would close it down as soon as you possibly can if you possibly can. This is a big deal and a lit of money and it has your name on it. I would instead look at it as him incurring a debt in your name that is really his debt alone and insist that the debt be on his side of the equation when you have to discuss marital asset and marital debt distribution. Please speak with your attorney as soon as you possibly can on this matter. It needs to be addressed quickly. Good luck.
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