Tag Archives: divorce debt

Illinois divorce attorneyDuring a divorce, you will likely experience feelings of sadness, loss, and failure. In addition, you may be left with financial struggles because of legal fees, child support, alimony, and asset division. Since a divorce can negatively impact your credit score, it is important to understand how so that you can minimize the damage. Here are several ways divorce can affect your credit.

Your Ex-Spouse Has Access to Your Accounts

If your divorce ended on bad terms and your ex is angry, they may rack up debt on any joint credit cards and drain your bank accounts, leaving you out of money and responsible for any incurred debt. To prevent this issue, you should change all of your banking passwords and remove your ex from all of your financial accounts.

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