Protecting your credit score throughout your divorce

By |2022-04-04T17:43:31+00:0023 Jan 2018|Categories: Divorce|


When you and your spouse choose to divorce, it is absolutely crucial that you make sure you completely separate your finances. While you may choose to separate your finances immediately or wait until closer to the finalization, depending on your needs and the nature of your relationship with your spouse, make sure that your finances are completely separate once the divorce is complete.

The greatest risk, in many cases, is that you or your ex-spouse may make a financial mistake that negatively impacts the other party, even well after your divorce. This commonly occurs when spouses choose to add each other as “users” of their personal accounts and lines of credit. While this is not the same as having a joint account or line of credit, it creates many of the same complications.

Let’s say that you leave your name on a credit account that belongs to your ex, for whatever reason. If, in the future, he or she misses a payment on that account, then you may see that action negatively impact your credit score. Unfortunately, you may not realize the damage dealt to your credit score until you find it difficult to qualify for loans and other credit-dependent opportunities like home buying.

Be sure that you understand all of the financial implications of your divorce before you move forward. Even if you and your spouse face a relatively simple divorce, executing it poorly may leave you both disadvantaged as you start your new season of life as a single person. The guidance of an experienced attorney helps ensure that you don’t miss out on important protections while you work towards the divorce you need, keeping your rights and priorities secure.

Source: FindLaw, “Credit and Divorce,” accessed Jan. 23, 2018

About the Author:

Dorie Anne Rogers - The Law Offices of Dorie A. Rogers, APC
Dorie A. Rogers, a Family Law Specialist, Certified by the State Bar of California, has been an attorney since 1981 with an exclusive family law practice located in Orange County. She is accepting dissolution cases with support and property issues including the use of forensics to ascertain business value, community interests and to establish monthly case flow analysis. Ms. Rogers has substantial experience in high conflict custody litigation involving sophisticated psychological issues. She drafts premarital and postmarital agreement designed to define and establish parties' separate and community property interests. Paternity cases and domestic violence matters are considered part of her practice. Ms. Rogers is a court-approved and court-appointed to represent minor children.Ms. Rogers consults with individuals concerned about entering or exiting a relationship. She advises effective strategies for dissolution or premarital planning. Knowledge is power and good planning affords better results.Specialties: Family Law Specialist, Certified by the State Bar of California
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