Divorce and Your Credit - Some Tips to Help Your Credit History Survive Divorce

Excerpt : Your credit rating may be your most important asset. Many people do not realize the effect a divorce can have on personal credit. When they do, it is often too late. Don't let this happen to you. If


Your credit rating may be your most important asset. Many people do not realize the effect a divorce can have on personal credit. When they do, it is often too late. Don't let this happen to you. If you are currently involved in a divorce, or if you may be going through a divorce in the near future, there are several steps you can take to protect your credit rating.

"I constantly see divorcees having

Practical Solutions To Divorce & Custody Concerns Also see : Helping Children to Cope with Divorce If you are a responsible parent facing the minefield of divorce, a prime concern will be helping your child cope with the process. If, on the other hand you are a parent who believes that old chestnut, "My child isn't bothered” or "kids take things...read more Helping Your Kids Handle Divorce Every year over one million parents have to talk to their kids about divorce. For each parent, the discussions differ, but the goals of the discussions are universal: to openly and honestly reassure your child of your love. Divorce is painful and...read more

their credit destroyed as the result of divorce," says Karen Meislik, a divorce attorney in New Jersey. "You can spend your life establishing good credit, only to have it ruined in just a few short months. I always stress this to new clients and make sure they do everything they can to protect themselves."

Throughout your divorce, you must make sure that your

Also see : Choosing A Divorce Attorney A good divorce attorney is one who will aggressively argue your case and advocate for your interests in family court. A divorce attorney should strive to timely resolve your case in a prompt and expeditious manner. In addition, a good divorce...read more Colorado Divorce Planning Colorado divorce planning could prove to be a complicated undertaking. You might be stunned if your partner tells you that he or she will be pursuing a divorce. What is more, you might come home someday to an empty home and a message, with your...read more

bills are paid on time. Do not refuse to pay bills in an effort to harm your spouse. You and your spouse are obligated to pay these bills, so you will be hurting yourself just as much your spouse. Failure to pay will harm your credit and will remain on your credit report for the next seven years.

You may also consider putting a fraud alert on your credit report. Although this will prevent you from

Also see : Divorce & Health Insurance Recently, I had a question from someone who was going through a divorce and was concerned about lost health insurance coverage because she was covered under her husband's insurance. She was concerned not just for herself, but for her children as...read more Divorce Mediation A Relatively Speedy and Low Cost Alternative Is it possible to have an easy divorce? A low cost divorce? Or do all divorce settlements necessarily end in hard feelings and financial ruin? The truth is that divorce can be low-cost and easy… or it can be a long ordeal that can drag on for...read more

gaining instant credit, this will also prevent many creditors from approving new accounts without speaking to you first.

Following the divorce, you can protect your credit by learning your credit history and score. You can do this by obtaining a copy of your credit report. Most states entitle you to a free credit report every year. New federal law does so too. Be sure to get a copy of your credit report

Also see : "Dating After Divorce: Things To Think About Regarding Dating After Divorce" Dating after divorce is a much debated topic due to the psychological and emotional impact it can have on people. Dating after divorce can be complex, too often divorcees don't consider the ramifications of dating after divorce before they jump into...read more What A Divorce Lawyer Is Going To Do For You Getting a divorce is not something anyone looks forward to and it is certainly not something that we plan for when we get married. Unfortunately divorce is a reality for many people in many different situations. If you are getting a divorce or...read more

from multiple credit bureaus, as your information may vary on the different reports. If there are any inconsistencies, or any information is incorrect, or even if something confuses you, call the bureau and find out what the problem is. You need to understand your credit report if you are going to protect yourself.

If you think that any information on your credit report is incorrect, you need to notify

Also see : "Should You Try To Stop Your Divorce If You're Just Thinking About Getting A Divorce?" Thinking about getting a divorce doesn't necessarily mean that you should try to stop your divorce. Conversely, it could be wise to try to s top your divorce, only you know whether you should. Just because you're thinking about getting a divorce,...read more Divorce and Health Insurance Benefits Divorce causes major issues with health insurance benefits. Many families have employer provided and/or paid for health insurance benefits that cover the entire family. It is not uncommon to see situations where the other spouse is a stay at home...read more

the credit bureau immediately. They will send you a form, speak with the creditor, and notify you of the outcome. If you are dissatisfied with the result, you can add a statement to the report explaining your side of the story.

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