If you’re going through a divorce in Baton Rouge, LA, you’re probably not giving much thought to your credit score. With all the other concerns on your mind, you might think that your credit score is the least of your worries. You might even be asking, “can divorce really affect my credit score?”
That’s a loaded question! Since neither your marital status or any changes in your marital status directly affect your credit, simply filing for divorce also doesn’t directly affect your credit score. However, there are many ways that your legal separation can impact your credit score throughout the divorce process. As you file for divorce or finalize your agreements, consider these important tips to help keep divorce from unexpectedly hurting your credit score.
#1: Stay Organized!
Divorce is all-consuming. At least, it can definitely feel that way! Divorce takes up so much of your mental energy that you might start to not pay attention to normal tasks. You might get so consumed with the divorce process that you accidentally miss credit card payments, and like any time you miss a payment, it will negatively affect your credit score.
#2: Remember that Lenders Don’t Consider Your Divorce
Many people forget that an agreement with a credit lender trumps a divorce decree. But as Equifax points out, even if your divorce decree says that your former spouse has agreed to assume some of the debt from your joint accounts, you could still be legally liable for that full debt in the eyes of a lender. If your name is on the account, get an divorce attorney’s help in setting things right so that creditors don’t come after you unexpectedly!
#3: Have a Plan for When Your Ex Doesn’t Pay Your Joint Bills
In many divorces, couples agree to split credit card bills or other debts. But of course, sometimes the other party doesn’t follow through. According to NerdWallet, if your ex doesn’t pay the bills as agreed, you’ll be financially responsible when the creditors come knocking! Talk to your divorce attorney about a plan for keeping you protected in the event that your ex-spouse doesn’t pay their share of the bills.
#4: Don’t Let Your Ex Keep Access to Your Accounts
Even if the divorce proceedings begin amicably, things can change fast! Avoid getting financially impacted by an argument or hurt feelings, and remove your spouse from your credit accounts and bank accounts as soon as possible. There are too many stories about a spouse who gets vindictive and takes it out on your credit score!
#5: Protect Your Rights By Hiring an Experienced Divorce Attorney
While it is technically possible to file for divorce on your own, and maybe services advertise a “do it yourself divorce,” having a seasoned divorce attorney by your side helps you avoid the frustrating situations mentioned above and more! An experienced legal team like Miller, Hampton & Hilgendorf can anticipate problems before they happen and help you navigate even the most complex aspects of your divorce in Baton Rouge, LA. Call 225-343-2205 to speak to an attorney today or contact us online!
3960 Government St.
Baton Rouge, LA 70806