{"id":160,"date":"2016-01-29T04:17:07","date_gmt":"2016-01-29T04:17:07","guid":{"rendered":"http:\/\/corey-law.com\/family-law\/?p=160"},"modified":"2023-02-18T06:59:02","modified_gmt":"2023-02-18T06:59:02","slug":"debts-and-divorce","status":"publish","type":"post","link":"http:\/\/corey-law.com\/index.php\/2016\/01\/29\/debts-and-divorce\/","title":{"rendered":"Debts and Divorce"},"content":{"rendered":"<p><strong>Does Divorce Affect Your Credit?<\/strong><\/p>\n<p>Divorce does not impact your credit directly.&nbsp; That is to say, getting a divorce alone will not change your credit score.&nbsp; However, because couples are financially intertwined and have joint debts, divorcing might result in changed credit.<\/p>\n<p>When you get divorced, the court has power to split the debts you have with your spouse well as the assets you have with your spouse.&nbsp; One important aspects of divorce is paying attention to your credit and debts.<\/p>\n<p>In general, if a debt is in your name, you are responsible for it. &nbsp;That means credit cards and loans you have individually and credit cards and loans you shared jointly with your spouse.&nbsp; However, your credit report should not contain any loans your spouse had individually, and your spouse will not have your individual loans.<\/p>\n<p>The divorce court might say that one spouse must pay a joint debt.&nbsp; If that spouse does not pay, the lender can still seek payment from the other spouse. &nbsp;Even though the court has assigns a joint debt to the other party, the court cannot alter the loan that you have already entered.&nbsp;&nbsp; If the lender attempts to have you pay the debt, the lender may report it to credit agency.<\/p>\n<p>Steps to protect your credit:<\/p>\n<ol>\n<li><strong>Obtain your credit report. <\/strong>Make sure you have all debts accounted for.&nbsp; If you notice any<\/li>\n<li><strong>Pay down debt or Refinance debt.<\/strong> Attempt to work into the agreement that both parties pay down their debt as much as possible or entirely. &nbsp;Attempt to refinance debts such as mortgages to one person\u2019s name only.<\/li>\n<li>If your debts are still too much, or if your former spouse is going to declare bankruptcy, it is crucial that you speak to a bankruptcy attorney.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Does Divorce Affect Your Credit? Divorce does not impact your credit directly.&nbsp; That is to say, getting a divorce alone will not change your credit score.&nbsp; However, because couples are financially intertwined and have joint debts, divorcing might result in changed credit. When you get divorced, the court has power to split the debts you [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":42,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-160","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uncategorized","8":"czr-hentry"},"_links":{"self":[{"href":"http:\/\/corey-law.com\/index.php\/wp-json\/wp\/v2\/posts\/160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/corey-law.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/corey-law.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/corey-law.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/corey-law.com\/index.php\/wp-json\/wp\/v2\/comments?post=160"}],"version-history":[{"count":1,"href":"http:\/\/corey-law.com\/index.php\/wp-json\/wp\/v2\/posts\/160\/revisions"}],"predecessor-version":[{"id":666,"href":"http:\/\/corey-law.com\/index.php\/wp-json\/wp\/v2\/posts\/160\/revisions\/666"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/corey-law.com\/index.php\/wp-json\/wp\/v2\/media\/42"}],"wp:attachment":[{"href":"http:\/\/corey-law.com\/index.php\/wp-json\/wp\/v2\/media?parent=160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/corey-law.com\/index.php\/wp-json\/wp\/v2\/categories?post=160"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/corey-law.com\/index.php\/wp-json\/wp\/v2\/tags?post=160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}