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Friday, January 11, 2013

DOES DIVORCE AFFECT CREDIT SCORES

How much can divorce affect credit scores? I never thought it made much of a difference, and was always offended by financing ads aimed at people who had lost a job, gone through a divorce, or had no credit history.

Come on, is getting divorced really as bad as losing your job? Little did I realize just how much getting divorced could affect my credit until I went through it myself.

The Reality of Too Little Money
After the big split, I found myself maintaining the same household on greatly reduced resources. On top of that, I had taken on a higher portion of the debts to insure that they were paid. Unfortunately, what was manageable while I was married soon became the ultimate juggling act as I tried to pay bills before their due date.

Next thing I knew, the state had placed a lien on my house and vehicle due to unpaid taxes on my ex's business. While I was still reeling from that shock, I was notified by a collection agency about my ex's delinquent credit card debt (which wasn't disclosed during the divorce). Thanks to community property laws, I discovered that I was equally responsible for that debt. Before I knew it, my good credit had gone down the toilet.

To continue viewing this article written by Tracy Achen, please click below:
 http://www.womansdivorce.com/divorce-affect-credit.html#ixzz2Hibyopgs

For more information, contact the Family Law Offices of Renee M. Marcelle at (415) 456-4444, or online at http://www.familylawmarin.com/ --

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