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Elemcee

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Spouse's actions hurting my credit
Spouse and I have been separated for 9 years. He kept house, I moved away. He stopped paying for house, it is in foreclosure with no date set. He also declared bankruptcy. I worked hard to build my credit but cannot take on paying for this house. Thinking of Deed in Lieu. How badly will this hurt me? Would it help to write a letter of explaination to the Big 3 credit companies?

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If the accounts are still in both your names, there is nothing you can do about it.  Until you are divorced and the court decrees who gets what and who pays for what, you are mutually responsible for the bills.  Only legal action will change that situation and , even then, the mutual accounts will show on both credit reports for 7 years from date of last activity as required under the Fair Credit Reporting Act, which is a federal regulation.

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