The financial impact of a divorce cannot be understated. The fact is that getting divorced plays a huge role in your financial health. The simple fact that you’re going from living with your spouse (and kids if you have them) in one home, possibly on a joint income, to starting a life on your own alters your financial situation significantly on its own. Then you add in things like legal fees, division of assets and debts, child support, and alimony, and it’s easy to see how a divorce can lead to serious financial problems.
That’s why one of the best things you can do before and during your divorce is to keep an eye on your financial situation, and an important part of that is monitoring your credit report.
Chances are that you and your spouse have joint credit cards together. If you’re preparing for divorce, now is the time to consider freezing those joint credit cards so your spouse can’t retaliate by running up a huge balance. It’s also a good time to get your credit report so you can monitor your outstanding balances and your open and closed lines of credit.
Now is also a great time to open your own individual credit card if you don’t already have one as this can be helpful in building your credit and preparing you for a transition into the next chapter of your life.
If you’re facing divorce, speak to the experienced, qualified team at Miller Law Associates. Our Florida divorce lawyers are here to guide you through this trying time. Learn more about our fixed fee Florida divorce legal services at www.DivorceYes.com.