Divorce can be an incredibly complex emotional time for both parties involved. When tempers erupt, and judgment is clouded by sadness, the decisions made during these times can have an impact on you for the rest of your life. Unfortunately, if your spouse lets their emotions get the best of them, it can have a negative effect on you. As such, it’s essential to understand that there are steps you should take to help protect your credit during this complex legal matter. If you are going through a divorce, it’s in your best interest to connect with an experienced Los Angeles divorce attorney to explore your options and ensure you take the necessary measures to protect your future finances.
How Can a Divorce Impact My Credit?
When you are going through a divorce, understanding how divorce can impact your credit is essential. It’s important to understand that simply getting a divorce does not play a part in impacting your credit score. However, joint accounts with your spouse can impact your credit score. As such, if your spouse does not make payments on a credit card or loan they co-signed, they can destroy your credit.
What Steps Can I Take to Protect Myself?
If you are going through a divorce, the first thing you should do is request a copy of your credit report. This allows you to determine which accounts are joint. Once you can identify these accounts, you’ll want to either close or remove your spouse from them to help protect your credit. In some instances, you may need to pay off a debt to close an account.
Additionally, you should understand that joint debts will still appear on your credit report as your responsibility after your divorce, which is why it’s in your best interest to settle the debt prior to your divorce. If you do not settle the debt and your spouse racks up significant charges on a joint card, their late payments can impact you, lowering your score.
What Should I Do if I Need Assistance?
As you can see, there are many considerations you’ll need to make just regarding your credit, let alone all the other elements you’ll need to keep in mind. That’s why it’s in your best interest to connect with an experienced attorney to determine the best course of action for your unique situation.
At the Zitser Family Law Group, our dedicated legal team will do everything possible to assist you through these complex times. We understand how anxiety-inducing it can be to know your credit score is on the line. That’s why our team will do everything possible to help protect your credit from a spiteful spouse. Contact us today to connect with an experienced attorney to discuss your unique circumstances.
