Posted on: 09th Jan, 2013 11:38 pm
Hi there... I’m in a problem. I dovorced few years back My ex-wife and the kids lived in a rented property. I guaranteed for her rent payments. I paid her child support and alimony and though that she was paying the rent. But I was wrong. She did not pay the rent anw it has gone to collections. It has lowered my credit scores. What can I do now?
Hi Guest,
Well, you seem to be in a tough situation. If you have guaranteed the rent payments, then the non-payments of that debt will have a negative impact on your scores. You should ask her to contact the collection agency and set up a payment plan so that she can pay off the debts.
Thanks,
Jerry
Well, you seem to be in a tough situation. If you have guaranteed the rent payments, then the non-payments of that debt will have a negative impact on your scores. You should ask her to contact the collection agency and set up a payment plan so that she can pay off the debts.
Thanks,
Jerry
Hi Guest,
As you're the guarantor, the CA can come after you to recover the debts. It would have been better if you wouldn't have remained the guarantor of the loan after your divorce.
Thanks
As you're the guarantor, the CA can come after you to recover the debts. It would have been better if you wouldn't have remained the guarantor of the loan after your divorce.
Thanks