Legal Question in Credit and Debt Law in Washington

50% of what we owe, and she keeps asking for more

I recently got divorce. the judge said we had to come to a settlement of each of us paying half of the 3 credit cards. I send her 400 dollars an month, we owe about 7,000. So what i was told we were going to pay half. i told her i was going to give her 400 a month, that way i can pay what is my part by feb of next year. She told me i owe her 5000 of intrest. can she do that? i mean the payments are of 179.00 a month for all 3, i send her 400, does she send all of what i give her or she pays the monthly payment and keep the rest and not give any (she not paying, i'm paying the 179) where are the $221? and she still tells me i owe her 5,000. i wanted to know if we could call the credit card holders and tell them to send us both seperet bills a month, splidding of what is owe to 50%. so i would send a payment to a full amount paying what i own, and not have to worry that i owe her or have any strings attached. Or her telling me i owe her more of what it says.


Asked on 6/24/08, 10:01 pm

1 Answer from Attorneys
Jonathan Cohen

Re: 50% of what we owe, and she keeps asking for more

This is a tricky situation that essentially consists of a mathematical problem.

First, I think you are correct in getting a copy of each credit card bill.

Now you can work the math. The idea is to pay down the credit card with the highest interest rate. Of course you must ensure that all three cards are paid the minimum so the rates do not get jacked up.

Once you pay down the card with the highest interest rate, now go ahead and pay the card with the next highest rate.

The math problem is as follows: If you have a CC with 20% interest of $3,000 and a CC with 15% interest of $3,000, should you pay the 20% interest on down to $0 balance before paying down the 15% interest one? I don't think so; do the math to determine the CC which is accruing the most $$ in interest each month!!!

By February 2009, determine whether that $3500 you forked over has actually reduced the principle on the three CCs to half. Unfortunately, I think you have to add 1/2 of the interest that accrued on the three CCs during that period, and add that to the amount you owe!! Hopefully, your solving the above math problem minimizes that amount!!

I don't know why your ex-wife is saying you owe so much interest. Exes tend to exaggerate.

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Answered on 6/25/08, 12:37 pm


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