During the divorce process, a lot is going on. Not only are you dividing up visitation schedules, living arrangements, and possessions, you are coping with your life adjustments. It is easy to see why everyday tasks can slip through the cracks. Between changing addresses, packing boxes, and updating billing information monthly bills often go unnoticed, at no fault of either party. However, there are several reasons why it is imperative that the monthly bills remain paid each month, especially during divorce negotiations.
How Putting Off Payment Impacts the Divorce
Continuing to the pay the bills has some benefits but also has a few downfalls. First and foremost, you want to ensure that you protect your credit report. Good credit is necessary for most things in life now, including getting a job, renting or buying a house, and even getting re-married. To come out of a divorce with poor credit makes a difficult situation worse. However, set up a payment agreement with your ex-spouse about who is responsible for which bills each month. Once you have filed for divorce, anything outside of the marriage is no longer considered marital property, which is not subject to equitable distribution. In the court of law, making payments in “good faith” does not earn you any points with a judge unless there is a binding contract to go along with it.