Can I Prevent My Ex from Ruining My Credit in Divorce?

You may be able to, depending on the nature of your marital debt, your ex, and the steps you take before or during the divorce.

Protecting Your Credit Through Divorce

Some of the things that can be done to mitigate the credit impacts of divorce – including an ex’s attempts to damage your credit following a divorce – include:

• Closing joint credit lines ASAP – Even if you and your ex are splitting on relatively friendly terms, it’s smart to close joint lines of credit. This is because, with a joint line open, your ex could open up a new line of credit – without you being informed; (s)he could also change the credit limits or make other changes that could affect your credit score (not to mention your future liabilities). So, close shared lines of credit and open up credit cards in your name alone when you are ready to divorce.
• Keeping a close eye on joint accounts following divorce – If your ex has been ordered to pay certain debts in divorce, make it a point to monitor these account to make sure (s)he making all of the paying on time. The reason this is important is that you will still be legally liable for repayment if your ex defaults, and keeping track of the account activity can alert you to any late payments (or other issues) as soon as they happen.
• Not letting too many defaults occur without taking action – If do you notice an ex is not making certain debt payments – or a creditor calls you looking for a payment due to an ex’s default, consult an attorney ASAP to find out your best options for taking action. Letting a default go on for too long can result in far greater problems down the line, like the possibility of creditor lawsuits or wage garnishments.
• Regularly monitoring your credit report – While this is a financially responsible habit to practice in general, it can be especially important following divorce, especially if you have a bitter ex who may be intent on revenge. By checking your credit report, you can be quickly alerted to any fraudulent charges an ex may have run up in your name, allowing you to put a stop to it ASAP.

Contact a Scottsdale Divorce Attorney at the Law Office of Karen A. Schoenau

Do you need help protecting your financial interests in divorce? If so, you can rely on Scottsdale Divorce Attorney Karen Schoenau. Since 1987, Karen Schoenau has been committed to helping people resolve their important family law matters, including complex cases related to divorce, custody, paternity. and other issues.
To receive professional advice and learn more about how we can help you, schedule an initial consultation with Attorney Karen Schoenau. You can set up this meeting by calling (480) 209-1918 or by emailing us using the drop-down contact form at the top of this page.
From her offices based in Scottsdale, Attorney Karen Schoenau represents clients throughout the metropolitan Scottsdale area, including Scottsdale, Mesa, Surprise, Maricopa County, Pinal County, Gila County and throughout the state of Arizona.