Legal Question in Credit and Debt Law in Tennessee
Credit Rating
My daughter is currently in divorce proceedings. Her husband is refusing to pay any of the monthly bills; house payment, electricity, water, phone, or anything. The only thing that my daughter is asking him to pay is his truck payment. The loan is in both of their names. Will her credit rating be ruined if he does not make the loan payment? She is considering making the loan payment to save her credit rating. I don't think that she should. What is the leagal standing?
Carl
1 Answer from Attorneys
Re: Credit Rating
Hopefully your daughter is being represented by an attorney in the divorce proceeding. If that is the case, she should consult with her lawyer prior to making a decision as to what to do. If she is not, she should consult with an attorney in that it sounds like this matter is getting complicated.
In short, without having examined any of the documents, if both parties are co-obligors on the note, then both of their credit ratings will more than likely be affected by the failure to make timely payments.
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