Does A Divorce Impact My Credit Score?
In Alabama, getting divorced itself does not change your credit score. But there are ways it can indirectly affect your credit rating — causing unexpected issues for you down the road. Here at Ted Stuckenschneider PC, we understand that your credit score is likely not the first thing on your mind when dealing with the end of your marriage, but it should be.
A poor credit report can cause more harm than you may realize. Gone are the days when your credit only affected whether you could borrow money from the bank. Now, having bad credit can lead to lost job opportunities, high interest rates and many other complications. As such, it is crucial that you work with our firm to protect your credit before you finalize your divorce.
Can I Protect My Credit Score From The End Of My Marriage?
A difficult dissolution can already be costly; don’t let it further impact your finances through your credit score. Take precautions to safeguard your financial stability and yourself from unnecessary debt today.
You can start by:
- Freezing your joint accounts so that debt cannot accumulate in the meantime
- Splitting or closing joint accounts you hold with your spouse
- Notifying your creditors of your divorce and intentions as soon as possible
- Changing the passwords to your accounts so that only you have access to them
No matter how confident you are that your ex or soon-to be ex will respect your decision to divorce, you should still take preemptive measures.
Should I Consult An Attorney?
Don’t risk financial ruin at the hands of an emotionally compromised or vengeful spouse. Speak with our attorney about the best course of action for you and your financial situation today.
To take advantage of attorney Ted Stuckenschneider’s board-certified bankruptcy experience, call 205-419-2636. Or send us an email to arrange a free consultation at our Birmingham office at your earliest convenience.