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Does Getting A Divorce Affect Your Credit?

Posted by Crissy Del Percio | Nov 13, 2019 | 0 Comments

does getting a divorce affect your credit

Drama-Free Divorce provides the answer to your questions about 'does getting a divorce affect your credit?'. Our mission is to address your concerns in an open and easy manner. Missouri and Kansas residents living in Kansas City can take advantage of our flexible payment options beginning at $500 per month, offering fixed pricing without surprises or court appearances necessary. Our lawyers combine professionalism with compassion to guide their clients through these difficult times.

People often worry about what the impact of divorce will be on their credit scores, which can cause anxiety for many individuals. We will explore the relationship between credit and divorce to provide insights on protecting financial status - such as freezing credit or hiring an experienced divorce lawyer.


How will divorce affect my credit score?

Divorce can have an impact on your finances, its severity will depend on various factors. Knowing how divorce may change them is crucial.

Divorce does not directly affect one's credit score, however, financial decisions made during the divorce process could have an indirect impact on it. Poorly managed joint accounts or debts could negatively influence both parties' scores.


Does It Make Sense to Freeze My Credit During Divorce?

As part of your divorce preparations, freezing your credit card can offer additional peace of mind by protecting against unauthorized access or the incurrence of new debts. By taking this proactive measure you will ensure neither party makes significant financial changes without notifying their partner.

Here are the benefits associated with freezing your credit:

  • Preventing New Accounts:  By freezing your credit, you can stop joint accounts from being created without mutual agreement.
  • Security Against Fraud: Safeguards put into place against identity theft and any fraudulent activities that might occur during divorce proceedings.


How Can I Safeguard My Credit Post-Divorce?

To safeguard your credit and reduce potential harm, taking proactive steps and mitigating risks is the way forward. Here are a few helpful suggestions:

  • Closing Joint Accounts: Closing any joint accounts helps avoid debt accumulation post-divorce and can help alleviate future concerns over shared liabilities.
  • Open Communication: Make sure all financial decisions are discussed among both of you to avoid unpleasant surprises or delays in making payments.
  • Keep Your Credit in Good Order: Make it a part of your routine to review your credit report regularly to identify changes or discrepancies that could compromise it.


Why hiring a divorce attorney is preferable over proceeding without one?

Divorce attorneys provide invaluable assistance when it comes to handling the complex legal matters associated with divorce. Here are a few reasons why seeking professional legal assistance might be best:

  • Legal Expertise: Attorneys have an in-depth knowledge of family law and will fight hard on your behalf to protect your rights.
  • Skilled Negotiators: Attorneys who have advanced negotiation techniques can quickly come to fair agreements that avoid prolonged legal battles and ensure quick resolutions.
  • Objective Advice: Consulting with an attorney for objective advice will enable you to make more informed decisions without being solely influenced by emotions.


When should an attorney be hired?

Depending on the specifics of your case, legal assistance could be essential in reaching an amicable settlement agreement for divorce. Common situations in which legal advice could prove helpful:

Complex Financial Situations: If your situation involves substantial assets or liabilities.

Child Custody Issues: Legal advice can be a lifeline when disputes over child custody arise.


What criteria exist for selecting an exceptional attorney?

Consider these criteria when searching for an attorney:

  • Experience: When hiring an attorney for divorce and family law cases, make sure they possess significant expertise.
  • Communication Skills: Effective communication will aid your understanding of legal processes.
  • Client Reviews: An attorney's past client testimonials serve as evidence of their competency.


Why Choose Drama-Free Divorce:

Drama-Free Divorce stands out by tailoring legal assistance specifically to each situation. Communication between our team of attorneys and you ensure you stay fully informed at each stage. Our clients' testimonials attest to our ability to assist them in reaching favorable results.


Suggestions for Action

  • Consultation: Reach out to one of our divorce attorneys to set up an initial consultation and review the details of your case.
  • Credit Report Audits: Review your credit report regularly to look out for any anomalies or suspicious activity, and spot possible scams or potential alterations that could compromise it.
  • Financial Planning: For optimal planning of life after divorce financially, consult with a qualified advisor.
  • Open Communication: For an easier divorce process, keep open communication lines with both of your former partners.

Navigating a divorce while maintaining financial security requires careful preparation. By taking proactive steps and seeking professional guidance, the financial impact can be reduced considerably. Contact us today at 816 615-5555 or send us an email on our Contact Page.

About the Author

Crissy Del Percio

Crissy Del Percio is a graduate of the University of Missouri-Kansas City School of Law. Additionally, she received her undergraduate degrees in Journalism (News and Information) and Communication Studies from the world-renowned home of the Jayhawks – the University of Kansas. She has been practicing law for a decade and spent the first part of her career specializing in helping low-income survivors of domestic violence. Now at Drama-Free Divorce, Crissy enjoys helping people consciously uncouple. She is also a Guardian Ad Litem and domestic mediator. Crissy has won a number of prestigious awards for her work in public service, but you likely recognize her from her acting career, where she is also an award-winner. In her free time, she enjoys spending time with her egregiously overpriced dog, Augustus Rodham and knitting. 


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