Review all of your credit reports so that before your divorce is finalized you know where you stand and have made steps to separate yourself financially from your spouse.
Debt, Credit, Bankruptcy
I’m thinking of filing for bankruptcy. Would there be negative repercussions?
There are severe consequences when one files for bankruptcy, and you should know what they are before taking that route to escape debt.
What are the most common financial mistakes people make during a divorce?
Here are the most common mistakes that I see people make in divorce. Number one: one spouse generally wants to keep the business or a pension plan, and the other generally want to keep the marital home. Because of the differences in the valuation of those assets, it does not work out very well. Secondly: […]
I’m concerned that my credit is going to be affected as I go through my divorce; what can I do to protect myself?
What you can do to protect your credit when you’re going through a divorce is to establish your own checking and savings accounts right off the bat. Also, if you can establish credit in your own name with credit cards and department stores, do that at this point in time. If you can work […]
What happens to our debts when we divorce? We live in Ontario.
When you separate or divorce, the debts that you hold in your own name continue to be your responsibility. The debts that your spouse owns in his or her own name continue to be their responsibility. Debts that you hold jointly — that is, both of you owe money to the creditor –– continue to […]
How should we deal with our marital debt? We owe more than we own.
Marital debt may be the cause of divorce, or a factor that’s delaying it. Find out how to work alongside your spouse to deal with this financial issue and move on with your lives.
Can my former spouse file for bankruptcy to avoid paying child support?
Can your spouse file bankruptcy to avoid paying child support? Your spouse’s debts will be relieved, but not their obligations to pay child support or alimony. Click to read more.
If my ex-spouse fails to pay for debts, can her creditors come after me for payment?
If you’ve signed any papers or your name is on any documentation, then you could be liable to pay for debts that your ex-spouse owes.
What happens to our joint debts when we divorce?
Many divorcing individuals believe that if they can get their joint debts assigned to their spouse in the divorce decree, they no longer have to worry about them. That’s not the case!
How can I build or rebuild good credit after divorce?
A damaged credit report is often one of the after-effects of a divorce, especially when individuals don’t know how to protect themselves. Here’s how to rebuild credit after divorce.
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