Divorce, illness and a long term disability are the most common life events that have a catastrophic effect on a person’s financial well being. Frequently a person going through divorce watches as the former spouse destroys their credit rating.
These tips may be helpful in maintaining your credit score:
1. It is important to check your credit score periodically to see if your credit has been affected by your divorce. It will also show if any debts that you once shared with your spouse are neglected. This information is helpful in determining when it is time to cancel joint accounts.
2. All bank accounts, debts, and property that you share with your spouse should be separated, canceled or sold.
3. When you have canceled all of your joint accounts and divided debts so that you are not legally bound to your former spouse’s current debts, it is your best interest to notify creditors of your divorce.
4. Work with your New Orleans divorce lawyer to make sure that you have addressed all the issues that could inadvertently affect your future credit rating after your divorce is finalized.
The most important thing that you can do during divorce proceedings is to protect your interests. This is not the time to allow the emotional upheaval of a divorce to impair your good judgment. If you follow these suggestions, you should maintain a good credit standing. For more information, visit http://www.divorcelawyersneworleans.net.