Tag Archives: credit cards during divorce

DuPage County divorce attorneyGetting a divorce can wreak havoc on many areas of your life, but your finances can take an especially hard hit. When you are married, your accounts, loans and bills are all typically in both you and your spouse’s name, but that can be disastrous, especially if your divorce is particularly contentious.

After your divorce, you have to separate your finances from your spouse, but it is not uncommon for people to come out of a divorce with quite a bit of debt and some damaged credit. Without good credit, it can be difficult for you to get loans in your name or obtain housing, among other things. Here are a few things you can do to return your credit back to a healthy state after your divorce:

Live Within Your Means

Now that you are separating your finances from your spouse’s, you need to look at your expenses and income and determine whether you are making enough to live. You should create a budget that outlines all of your necessary monthly expenses, your optional monthly expenses and money for spending. Keeping a good credit score is mostly dependant on paying your bills on time and keeping your debt low. Living within your new means will help.

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Illinois Divorce LawyerYou may wake to a nasty surprise during divorce that your spouse has obtained a credit card in your name alone totally without your knowledge and has made large charges to it.

Your spouse may obtain a credit card in your name by asking the card company to send a card to your home address in your name. Also companies still sometimes send unsolicited offers of credit to consumers homes through the mail ( or by email) even though this may be a violation of the Federal Truth in Lending Act or Illinois law.

If your spouse uses the card issued in your name, during a divorce it can be difficult to prove that those charges were made without your consent. Particularly purchases for Household items or normal living expenses, even cash withdrawals made by your spouse may allow that spouse to argue that the credit card charges were made with your permission.

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