Divorce and credit - 8 killer Tips You Should Know
When you divorce and your ex-spouse fail to maintain the joint accounts as promised, this could result to bad credit, which is not good for you. There are eight tips you must look at and take serious when you are going through the separation proceedings. You do this to protect your score and your good credit.
Divorce and credit tip 1
If you have joint accounts, and they are active during your divorce, make sure that you make all payments on time.
Divorce and credit tip 2
If there is an outstanding bill on one of your accounts, it could affect your score. Once the separation occurs, you should close all accounts that your spouse has access to.
Divorce and credit tip 3
To make sure there is no more use of these credit accounts, ask the creditor to convert the joint account into a single account.
Divorce and credit tip 4
Based on the law, the lender cannot close joint accounts after the divorce. Further, the accounts could be closed if you and your spouse request it. Be warn that the creditors do not have to convert your joint account into a single one. They can ask you to apply for a new one. They can also reject your credit application based on your credit report and score.
Divorce and credit tip 5
When dealing with a house that is owned by both parties, you may have to look into refinancing and selling the home out right.
Divorce and credit tip 6
If during the divorce proceeding, you agree to let the spouse keep the house or the car, make sure that you receive a duplicate billing statement, so that you could keep track of the payments. You want to make sure that your ex-partner is living up to his or her agreement by paying the bills on time.
Divorce and credit tip 7
In addition, make sure you ask in the divorce decree that the account passwords are not changed without your permission. Otherwise, you may end up with damage credit due to a lack of payments by your spouse.
Divorce and credit tip 8
Further, make sure that you include every joint and individual credit account in the divorce settlement stage.
After going through all of these measures, and your score is still damaged, you may need the help of a professional credit repair book or service to get you back on track. There are many books and companies specializing in this area, and you can get the help you need for a decent price. If you decide to go this way, just search the net for books and companies.
Divorce and credit tip 1
If you have joint accounts, and they are active during your divorce, make sure that you make all payments on time.
Divorce and credit tip 2
If there is an outstanding bill on one of your accounts, it could affect your score. Once the separation occurs, you should close all accounts that your spouse has access to.
Divorce and credit tip 3
To make sure there is no more use of these credit accounts, ask the creditor to convert the joint account into a single account.
Divorce and credit tip 4
Based on the law, the lender cannot close joint accounts after the divorce. Further, the accounts could be closed if you and your spouse request it. Be warn that the creditors do not have to convert your joint account into a single one. They can ask you to apply for a new one. They can also reject your credit application based on your credit report and score.
Divorce and credit tip 5
When dealing with a house that is owned by both parties, you may have to look into refinancing and selling the home out right.
Divorce and credit tip 6
If during the divorce proceeding, you agree to let the spouse keep the house or the car, make sure that you receive a duplicate billing statement, so that you could keep track of the payments. You want to make sure that your ex-partner is living up to his or her agreement by paying the bills on time.
Divorce and credit tip 7
In addition, make sure you ask in the divorce decree that the account passwords are not changed without your permission. Otherwise, you may end up with damage credit due to a lack of payments by your spouse.
Divorce and credit tip 8
Further, make sure that you include every joint and individual credit account in the divorce settlement stage.
After going through all of these measures, and your score is still damaged, you may need the help of a professional credit repair book or service to get you back on track. There are many books and companies specializing in this area, and you can get the help you need for a decent price. If you decide to go this way, just search the net for books and companies.