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How To Survive Divorce Setbacks That Attract Poor Credit Scores

How To Survive Divorce Setbacks That Attract Poor Credit Scores

Divorce proceedings are always full of emotions. Anger, regrets and sometimes even depression; these are just but some of the setbacks one may have to go through after filing for divorce. It gets worse with the fact that there is always some money involved in filing divorce proceedings. Then there are assets and liabilities to be shared. That is exactly where credit scores come into the picture. You may have a joint account with your spouse for purposes of servicing a loan. It takes just one person to sabotage everything by defaulting to pay an installment. One’s credit score then shoots to the roof. Fortunately, there are always solutions and preventive measures that one can consider going for to solve things before everything falls out of hand.

First off, note that one can easily be confused when going through a divorce. It is therefore easy to overlook a few things that can take a toll on your credit score. Be keen your credit card details. Make sure that you change the details before you even get divorced. That way, your ex will not sabotage you should he or she have enough details to spend online or even offline, using your credit card.

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Then there is yet another setback which can dampen your spirits some more. it has everything to do with joint bills accounts. Be clear with your partner on who will run the account after divorce. Note that while judges may rule that one party to the divorce proceedings run the account, you and your ex can always strike a common ground. This will in fact, make the judge’s work easier. Agree on who will clear the bills in any account and how much each party may contribute to clear some joint debts. You will have saved court’s time by several hours. You will also have saved your future financially.

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