One of the biggest financial concerns for many people going through a divorce or separation is the way it will affect their credit. Your financial situation is an extremely important consideration throughout all divorce processes. The good news is that there are ways to limit the amount of damage a divorce will have on your credit score.
Whatever debt you and your spouse shared, you’ll need to contact each creditor to either close accounts or split the balance. The easiest option may be to file bankruptcy, but there are usually several other options as well. There’s a surprising amount of assistance you can receive from creditors, as well as banks and financial institutions. They realize how often a divorce can make things messy, and they can work with you to some extent to help you form a financial plan.
Ask an experienced family attorney about the many ways you need to protect your finances throughout the divorce process.