How you handle debt during your marriage can make a big impact on your credit. Your personal credit score also will be affected by how you handle debt during your divorce and after. Here are three questions to ask to help you determine what to do in your situation. Continue reading →
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Credit problems are not uncommon during divorce and frequently arise because most people don’t realize that creditors are not legally bound to abide by a final decree of divorce. That is, a judge’s order does not override what is owed to a certain creditor and there are many potential problems if one spouse does not follow the court order. Continue reading →
If your friend has been struggling with a decision to start a divorce, a large concern can be what do to about the debt from the marriage and the other spouse accumulating debt during these last months before filing. Your friend can be concerned that the spouse may be spending more than usual because they know that a divorce is inevitable.
Regardless of what debts your friend may be facing, help them try to get organized and gather information about their current financial situation. The biggest advice is not to panic. Many people think their spouse may be hoarding or taking money, when that is typically far from the case. Remind them to get the facts first before jumping to conclusions. Continue reading →