Avoid Credit and Financial Mistakes While Divorcing

Avoid Credit and Financial Mistakes While DivorcingDivorce is not an easy process. However, your credit and finances don’t have to suffer while you are in the process of a divorce.  Included below are some helpful dos and don’ts of protecting your finances and credit through the divorce process:

Financial dos during Your Separation or Divorce Process

  1. Do hire an Attorney (In some cases, you may need to hire a real estate attorney and divorce attorney, depending upon your real estate portfolio)
  2. Do close all your joint accounts, including credit cards prior to your divorce proceedings
  3. Do sell your properties that you jointly own
  4. Do include to settling and paying off your joint credit card accounts in your divorce decree
  5. Do change your will and insurance policy, which can be included in the divorce decree

Financial Don’ts During Your Separation or Divorce Process

  1. Don’t hire a mediator
  2. Don’t hire an expensive attorney you cannot afford
  3. Don’t stay on title or keep the mortgage which you are liable for the debt, as the borrower or co-borrower during and after the divorce
  4. Don’t expect to keep your current lifestyle
  5. Don’t foreclose on your property, hire a reputable real estate agent to price to sell your property
  6. Don’t file bankruptcy

Related Posts:

For more information on how we can best serve your debt and personal credit, please fill out the online contact form about your concerns or give us a call at 561.802.4445.  Read what people have to say about First Pro Capital on our Testimonials page.

Allow our team of professionals to assist you!

Copyright of First Pro Capital Inc. Company logo, photos and business materials used for our blogs are rightfully owned by First Pro Capital. Copyright Infringement is Identity Theft, which is unlawful in any jurisdiction.

Speak Your Mind

*

WordPress Blog Design | Get Found Now