Stay debt-free during a divorce. If you are ending a marriage, there’s enough additional stress already without worrying about financial problems. You can stay debt-free during a divorce and build your credit history with some careful planning and awareness of divorce and credit pratfalls.
Divorce Debt Pitfalls: What To Avoid
There are a number of pitfalls that can lead to divorce debt. If credit cards are in both of your names, make sure that payments are made throughout the divorce proceedings. Talk to the credit card companies about cancelling joint accounts and reopening credit cards in your name only after the divorce is final to keep debts in check. Be aware that the credit card company may request that individual accounts are opened as new accounts, with all-new applications. If you are the credit cardholder, you are responsible for all debts during and after the divorce. If your ex-spouse is an authorized user on any card, request that the credit card company delete their name to avoid additional debt during or after the divorce.
Build Credit History After A Divorce
Many people find out after a divorce that they need to build their personal credit history. Start by ordering your credit report and score to see where you stand. Credit monitoring programs provide helpful information on how to build a better credit history. Start slowly and work to improve your credit report over time for the best results.
Divorce And Credit Issues To Keep In Mind
If the only credit cards you own are joint accounts, it may mean starting to build a credit history from scratch. Look for low interest credit cards or balance transfer credit cards to help reduce debts after divorce. Build a new credit history with a prepaid credit card that reports on personal and financial information to the credit bureaus if traditional credit cards are not an option. Work towards becoming debt-free or at least reducing debt by paying more than the minimum amount due each month and paying bills on time.
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Frequently Asked Questions
I have been married 20 years. my husband filed for ...
By: thedancer | 27-07-2008
i have been married 20 years. my husband filed for a divorce in June of 2007 we have two adopted special needs children.boy 4 girl 5. the children has told me what their dad has done to them. sexually abusing them. they have be to child safe, DFS for their statements. they, have told the DFS some of what happen to them. but that wasn't enough. when they are with their dad, the little girl still tells me what he has done.she is 5. they will not listen to me when i tell them what she says. they have told me if i call one ,more time they will take the kids from us. they were in counseling.they also told it to her, but because the talked about other things too. then what they said to them about their father doesn't mater. just because, i am disabled, and i am on antidepressant . they think that i am not capable to take care of theses children. i have had them since, i month old and four month old. they are my life. my question is, how do i represent my self in the case.??? i can't afford a lawyer. we have assets. he is trying to prove me mentality disabled, and that i can't take care of these children.i had a lawyer and she didn't do her job. she was payed 2,150.00. and now i have to represent my self. i need help.!!!! please give me something to go on, what do and what to say.??? thanks,
Can you divorce a dead person
By: Bendleton | 26-07-2008
My sister and her husband both signed their divorce papers, but her husband committed suicide before the judge signed and issued the divorce decree. My question is: does his suicide nullify the divorce decree that the judge never signed?
Divorce counter claim
By: Adrian | 25-07-2008
What happens if the date on my served papers say june 12 and I received and signed for them on July 27? Also what happens if i counter claim these papers..
How can I be on your list of coaches?
By: Rochelle Schwartz | 24-07-2008
Hi,
MFy name is Rochelle, and I'm wondering how can I get on your list of coaches? I specialize is coaching people in Spiritual Divorce? I've been coaching for 8 years, and doing personal growth work for 34 years. I'm certified through Debbie Ford's work. The Ford Foundation at JFK University?
My email is coachrochelle@comcast.net
Thank you
Rochelle Schwartz
Master Integrative Coach
papers
By: sane | 24-07-2008
do you have to sign divorce papers in CT if one wants it and the other refuses to sign until a restraining order is void.? which could be a year.
Records
By: linda | 23-07-2008
trying to find info on marriage{3=28=88}/divorce{1-25-90}for edward coleman bruce and jeanne h grieve{s}married at carls corners texas or possibly her first name penney
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