What to Do If Your Ex Refuses to Close Joint Accounts
Divorce can be complicated enough without the added stress of financial entanglements that linger long after the papers are signed. One of the most urgent tasks following a divorce is closing joint financial accounts—whether checking, savings, or credit cards. But what happens if your ex refuses to cooperate and keeps those accounts open? This situation can expose you to significant financial risk.
In this article, I’ll walk you through what you need to know and do if your ex won’t close joint accounts, how to protect yourself financially, and the steps you can take to regain control of your money and your credit.
Understanding the Financial Risks of Joint Accounts After Divorce
First and foremost, it’s critical to understand the risk involved with joint accounts. Even if your divorce judgment states that your ex is responsible for certain debts or payments, the bank or creditor doesn’t take that into account. As long as your name remains on a joint account, you are legally responsible for any activity on that account.
- Overdrafts
- Unauthorized charges
- Accumulating debt
If your ex refuses to close the account or remove your name, and the account becomes overdrawn or goes unpaid, creditors will pursue both of you. This can lead to damaged credit scores and unexpected financial liabilities that can affect your financial future.
How to Protect Yourself with Joint Bank Accounts
When it comes to joint bank accounts, banks typically require the consent of both account holders to close the account. However, there are ways to limit your exposure while you work through the issue:
- Request a freeze or restriction: Many banks allow you to temporarily freeze the account or place restrictions such as requiring two signatures for withdrawals. This helps prevent unauthorized spending.
- Stop using the joint account: Avoid any further transactions to limit your liability.
- Move your funds: Transfer your money to an individual account held solely in your name to protect your assets.
Handling Joint Credit Cards When Your Ex Won’t Cooperate
Joint credit cards are a bit more complicated. Unlike bank accounts, you cannot force the credit card company to remove your name from an account without your ex agreeing to refinance or transfer the balance.
However, here are some important steps you can take:
- Freeze the account: Ask the credit card issuer to freeze the account so that no new charges can be made.
- Request conversion to an individual account: If your credit is strong, you may be able to convert your responsibility to an individual account, separating your credit from your ex’s activity.
A Real Client Story: The Cost of Inaction
We once helped a client whose ex-spouse refused to close a joint credit card and continued charging thousands of dollars after their divorce was finalized. She assumed she was off the hook because the divorce judgment stated he would be responsible for the payments. Unfortunately, when he defaulted, the unpaid balance damaged her credit as well.
We assisted her in contacting the creditor, documenting the divorce order, and initiating the dispute process. However, this situation could have been avoided with faster action immediately after the divorce was finalized.
How to Move Forward and Cut Financial Ties Safely
At Divorce661, our goal is to help you not only navigate the legal aspects of divorce but also avoid the financial pitfalls that can follow. Here’s how to protect yourself effectively:
- Act quickly: Don’t wait to address joint accounts after your divorce is finalized.
- Follow the court order: Use your divorce agreement as a tool when negotiating with banks and creditors.
- Seek professional support: Work with legal and financial experts who understand the nuances of post-divorce financial separation.
- Monitor your credit: Regularly check your credit reports for any unauthorized activity.
Get Professional Help to Protect Your Finances
If you’re struggling to untangle joint accounts or your ex refuses to cooperate, don’t hesitate to seek help. Taking the right steps early can save you from financial headaches and protect your credit score.
Visit Divorce661.com to schedule a free consultation. We provide flat-fee divorce services with ongoing post-judgment support, helping you close accounts, enforce court orders, and move forward with peace of mind.
Take Control of Your Financial Future
Divorce is a fresh start, but only if you can cut the financial ties cleanly. Don’t let joint accounts become a lingering liability. Protect yourself, your credit, and your future by taking decisive action today.
