When you’re going through a divorce, your finances may not be at the top of your mind. It’s an emotionally challenging time and you may be preoccupied with child custody, property, or insurance issues. 

While a divorce alone won’t hurt your credit, certain consequences of the divorce could. If the relationship ends on bad terms, missed or late payments will tarnish your credit. For example, if you have joint accounts with your spouse, missed or late payments could affect your credit report. You need to make sure that accounts with your name have payments made in full and on time. 

Take steps to protect accounts in your name. You may want to:

For more detailed information on how to handle your finances during a divorce, read this article by FTAdvisor. Look for a divorce lawyer that is aware of the types of consumer protection issues that divorce clients face.

Published on

January 25, 2018