After using a Charlotte divorce attorney to get you through your divorce, it’s time to re-evaluate your finances and your credit. In many cases, the divorce order will split both assests and debts, even if the debt wasn’t originally in your name. Here are some ways to protect yourself against a low credit score.
Determine which accounts you’re responsible for. Perhaps you have a mortgage in both you and your spouse’s name, but you were forced to move out. The divorce may have awarded the home to your spouse, but that won’t take your name off the mortgage. Call the mortgage company armed with your divorce paperwork, and remove your name, so that unpaid bills do not affect your score. Do this with each account that you are no longer responsible for so that no surprises come your way.
Be aware of fraudulent charges. Your spouse knows everything about you, even your Social Security Number and birthday. Makes sure their name is removed from your credit cards and other accounts to prevent them from having access. In addition, check your credit report and be aware of anything that isn’t familiar. You may want to become a part of a credit monitoring service where they will alert you of anything new or different that affects your credit score.
Don’t forget to remove your spouse’s name on accounts like your IRA, or any type of investment account or savings account. While doing so, it would be a good time to re-evaluate and change your beneficiaries to those accounts as well.
Taking a few simple steps can prevent financial surprises in the future. Rosen Law Firm can guide you through your divorce and help prevent problems after it’s final, so contact us today.






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