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Safeguarding a credit rating in a divorce situation

It is never wise for one to leave finances to chance. It's a particularly unwise thing for Connecticut residents to do when they're in the throes of divorce proceedings. It is likely that those who are separating or divorcing will be moving from a two to a one-income household. But there are steps individuals can take to safeguard their credit ratings in order to avoid ending up in financial distress.

It may be a wise idea for those who are divorcing to check their credit reports. There are many companies that allow a couple of checks at no cost. In doing so, individuals will have clearer pictures of their overall financial health and disclosing that to a former partner during divorce proceedings is necessary anyway. 

Knowing which partner is responsible for what debt also helps clarify things. Debts incurred during the course of the marriage are usually split. It's important to close joint accounts, pay off credit cards and other loans in both people's names and establish independent credit in a single name only and build up credit moving forward.

Divorce doesn't have to mean financial ruin. A Connecticut lawyer experienced in family law can help a client reach a beneficial divorce settlement with a former spouse. He or she may also be able to assist by referring a client to others who may be able to offer advice such as accountants or financial advisers. Divorce can be stressful, but it doesn't have to wreak havoc on a person's credit rating.

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  • Hi Yuliana and Attorney Prince, Thank you so much for taking time out of your busy day to meet with me. I really appreciated how compassionate you were while listening to my situation, even through my tears. Thank you so much for sharing such valuable information with me. I left feeling very hopeful that when the dust settles, I’ll be ok.
  • Wendy helped guide us through a very difficult and emotional process and was really able to provide an even and fair account for both parties. It's quite evident in her expertise in this area but the way she was able to make you feel safe and secure in a very insecure time goes far beyond her legal prowess. If the two parties are really willing to cooperate and collaborate, she's there to help gain the best possible solution for all involved, especially if there are children.
  • Regardless of how committed one is to the fact that divorce may be imminent and necessary, it is truly one of the most emotional and stressful situations one can experience. It can also be daunting. Wendy has a remarkable ability to cut through the noise and help you focus on the big picture while drilling down on what is most pertinent to your particular situation., they are a formidable team who work collectively with your best interests in mind.
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