Take steps to protect your credit during divorce
Credit scores are important, more than ever. When you separate or divorce, special care needs to be taken to protect your scores. Duriing these times of chane , it might be wise to shop around.
How you deal with the related credit issues pertaining to a marital separation and divorce is important for both your short and long term financial recovery. Many credit restoration companies thrive when the divorce rates rise. In challengiong financial times, debt management can take on a whole new meaning.
There are a few basic steps you can take to help lessen the financial pain.
. Consider tearing up all your cards.
. Separate joint debt into manageable chunks.
. Do a creit check on yourself and you spouse, if he or she agrees.
Try to agree on one appraiser rather than shopping for a "buyers" appraiser or a "seller's" appraiser.
Next to housing, generally auto expenses are one of the larger monthly bills that couples have to deal with. When it comes down to prioritizing what gets paid on time and what gets paid late or not at all, the importance of a vehicle is more pronounced than ever. It sure would be a drag to see your car being towed away by Rob the Repo Guy.
Once the damage is done to your credit rating, it takes a long time and a lot of work to restore it. You may be well advised to use the services of a credit restoration service if needed. The credit repair gurus are salavating these days.
When divorce cripples the family budget, not only does the stress level rise, but so too, does the likelihood of filing for bankruptcy. Despite new laws enacted in 2005 that tightened the requirements for bankruptcy, many people still see it as an easy way out of crushing financial debt. Unfortunately, some spouses also believe bankruptcy will allow them to escape their spousal or child support obligations during or after the divorce; wrong.
Despite the changes in bankruptcy laws in the last few years, it is still pretty easy to walk away from many individual and marital obligations.
How you deal with the related credit issues pertaining to a marital separation and divorce is important for both your short and long term financial recovery. Many credit restoration companies thrive when the divorce rates rise. In challengiong financial times, debt management can take on a whole new meaning.
There are a few basic steps you can take to help lessen the financial pain.
. Consider tearing up all your cards.
. Separate joint debt into manageable chunks.
. Do a creit check on yourself and you spouse, if he or she agrees.
Try to agree on one appraiser rather than shopping for a "buyers" appraiser or a "seller's" appraiser.
Next to housing, generally auto expenses are one of the larger monthly bills that couples have to deal with. When it comes down to prioritizing what gets paid on time and what gets paid late or not at all, the importance of a vehicle is more pronounced than ever. It sure would be a drag to see your car being towed away by Rob the Repo Guy.
Once the damage is done to your credit rating, it takes a long time and a lot of work to restore it. You may be well advised to use the services of a credit restoration service if needed. The credit repair gurus are salavating these days.
When divorce cripples the family budget, not only does the stress level rise, but so too, does the likelihood of filing for bankruptcy. Despite new laws enacted in 2005 that tightened the requirements for bankruptcy, many people still see it as an easy way out of crushing financial debt. Unfortunately, some spouses also believe bankruptcy will allow them to escape their spousal or child support obligations during or after the divorce; wrong.
Despite the changes in bankruptcy laws in the last few years, it is still pretty easy to walk away from many individual and marital obligations.
About the Author:
If you are thinking about a separation and divorce, have concerns about your finances, credit and legal rights get Free Divorce and Financial Information and Resources. It is important to avoid credit problems when you are in transition. At the Divorce Without Dishonor website you can find Free Divorce and Financial Information and Resources
posted by Credit Counseling at
7:55 PM
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You can dispute a bad credit listing on your Equifax credit report by creating a dispute letter. In your letter you must identify the disputed listing and provide an explanation as to why it is incorrect.logo design
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