► Debt Consolidation - Mortgages

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Credit Cards

      Contact your credit card issuers to 1) freeze joint cards and 2) get yourself one or more new cards in your own name, if possible.

     Inform the credit card companies in writing and call them as well. Tell them you want the accounts closed and that you are not responsible for charges from that point on. Then obtain a credit card in your name alone with one of the major revolving cards, such as Visa or MasterCard.

     Freezing your accounts won't relieve you of paying the debt. Only paying off credit cards will you be able to actually close them. Even if the court orders your spouse to pay off certain debts, you'll still be liable for them if they fail to do so.

     If you lack a credit history or have trouble obtaining a major credit card, look into a secured credit card. With a secured card, you put up $500 and the issuer will give you a line of credit equal to $500. Typically there is a small annual fee, but the issuers also pay interest on the balance you've paid them. Often, they will give you a larger line of credit than your deposit. What is important about the secured card is to make sure you get one from an issuer that reports to all three of the credit reporting agencies.

     Before signing the divorce papers, also consider a change of name authorization. Many states require your ex-spouse's signature before issuing you a driver's license or other ID in a previous or maiden name. Men who added hyphens during marriage could encounter identity trouble, as well.