Divorce is never easy, emotionally, legally, and financially. As you know, divorce is almost inherently an expensive process, and if you are someone who has either recently gotten divorced, or you are currently going through the divorce process, you are most likely wondering whether your divorce will affect your credit. Though the answer largely depends on your specific situation, unfortunately, in certain cases, it will affect your credit. Please continue reading and speak with our knowledgeable Los Angeles divorce attorneys to learn more about how divorce may affect your credit. Here are some of the questions you may have:
Can my former spouse hurt my credit score in a divorce?
In many instances, your spouse can hurt your credit score if he or she does not pay his or her credit bill on time. This is because most assets are subject to the equitable distribution process, and in many cases, debt is no exception to this. Unfortunately, oftentimes, spouses will have to help pay debt accrued in a divorce, even when they believe that they are not the spouse responsible for that debt. This can make the divorce process all the more financially damaging to a person, however, even if you find yourself in this situation, there are various actions you can take to help your credit score rebound after the fact.
How can I help my credit score rebound after a divorce?
Fortunately, you can, though it takes discipline. To start, you should ensure that you make every single payment on time. This is the most important thing you can do to begin rebuilding your credit. From here, you should also ensure that you are doing everything in your power to pay off any debt that you may owe on your credit cards. As always, it is also a good policy to never buy things that you cannot afford. By taking these actions, in conjunction with hiring an experienced attorney who can help you assess your financial situation and help you make the best of it, you should be able to bring your credit back to normal over time. If you have any additional questions, please do not hesitate to speak with our seasoned California divorce attorneys today. We are always here to help.
Contact our experienced Los Angeles firm
Divorce and family law issues are notoriously complicated and personal, which is why you must hire an attorney with years of experience, as well as the compassion and skill needed to handle these sensitive matters. For the qualified, dedicated legal representation you and your family deserve and need, contact Zitser Family Law Group, APC today.