How to Keep Your Good Credit During a Divorce

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One of the major reasons couples divorce is money, and it is usually because one spouse has better spending and saving habits than the other. If you want to protect your credit during a divorce, here are some tips:

Check your credit scores. As soon as possible, pull individual credit reports on both you and your spouse from Experian, Equifax or Transunion. Check to see if there are any debts you are unaware of or that have been neglected.

Close joint accounts. Do this prior to divorce proceedings, especially if you think a vindictive spouse may incur more debt in order to punish you. You are both responsible for joint account debts until the divorce is final.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© David Wolf | Attorney Advertising

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