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Divorce

Breaking the news
Children and divorce
Choosing the best Lawyer
Dealing with legal fees
Divorce: step by step
Divorce support group
Ex-spouse after divorce
Ex-spouse and favors
Finding love after divorce
First date After divorce
Forgiving your Ex
Frequently asked questions
From Ex-spouse to friend
Full Service Lawyer
Helping your child cope
Holidays and birthdays
Holidays and divorce
Living alone
Managing conflict
Mediation myths
Mediation: pros and cons
New Lifestyle
Non-Custodial Parent
Parenting Plans and Mediation
Protecting your child
Recover from divorce
Speak with respect
Stop being angry
Telling your child
The power of dogs
Unmarried/Gay and Lesbian Issues
Visitations after divorce
Work with your attorney

Links

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Arguing and your children
Domestic violence
Step-family relationships

Dating
Dating after divorce
Divorce and your credit
Infidelity
Leave an abuser

 

How to keep divorce from ruining your credit

  1. Close joint accounts. If you have the opportunity, close all joint credit accounts before you separate. Closing them before separation or divorce proceedings will keep an angry spouse from using the account and running up charges that you may later be held responsible for.
  2. Get separate or individual accounts. Turning all credit cards, gas cards and retail accounts into individual accounts. This will prevent you from having to re-establish credit in your own name after the divorce because you will already have it.
  3. Settle with creditors. Ask your creditors to let you close the accounts by paying a smaller amount than is owed. If your creditors allow this, get a letter from the creditor that the account has been paid in full and a written promise that they will not file anything derogatory about the account to the credit reporting agencies.
  4. Freeze accounts. If you are unable to pay off your account or come to a settlement agreement regarding the balance owed, freeze the account. You will be unable to use the frozen account, but it will protect you in the long run. It is important to freeze the account because once the divorce is final, the balance owed on the account can be transferred to the party the court holds responsible for the debt. If the responsible party does not pay the debt, you don’t have to worry about it affecting your credit score.
  5. Contact your creditors. Tell them that you are getting a divorce. If there is a change of address, let them know.
  6. Make sure all bills are being paid. Divorce proceedings can take months and all it takes is one late payment to hurt your credit. Pay the minimum amount due to make sure your credit will not be tarnished.

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