How is Your Credit Score Impacted by Divorce?

When couples go through a divorce their lives are changed completely. Uncoupling is difficult, especially for those who have been married for a long time. Some people wonder, how is your credit score impacted by divorce? Although a divorce itself does not change your score, there are some issues that may crop up during and after your divorce that are of concern.

Paying Bills While a Divorce is in Progress

One of the biggest mistakes that couples can make is to stop making regular payments towards their debts. This may occur when finances become complicated or confusing as to who should ultimately have responsibility for a given debt. It is essential that couples continue to pay their bills. The failure to do so could negatively impact both of your credit scores. Put a temporary plan in place that allows for bill payment in the interim.

Distribution of Debts in a Divorce

Assets and debts must be allocated as part of a divorce settlement. List all of your debts, along with their current outstanding amounts due. Then, determine how they will be paid. For example, some debts may be paid by one party, while others are paid by the other spouse. Be certain to account for all your debts.

Payment to Creditors as Part of a Divorce

Debts are allocated to each party as part of a divorce order. However, creditors may still seek payment from either party. The debts are technically still part of both of your credit histories, and as such, you will both be impacted if one of you defaults. Therefore, it is best to keep a close watch on your credit score both during and after your divorce.

Financial Problems after a Divorce

Those who have undergone a divorce may suffer some financial setbacks. This may be due to the loss of two incomes. Now, you must learn to get by with just one salary. This can create a decline in your financial health, especially if you begin to miss important credit card, mortgage, or loan payments.

Protecting Your Credit Score after Divorce

It is always a good idea to verify your credit score, but it is especially necessary to do so after going through a divorce. Review the details of your credit history and if there are any discrepancies you should dispute them immediately. If you find that your spouse has failed to make a necessary payment, you may need to take action. In some cases, it may be prudent for you to make a payment and then take legal action to get compensation from your former spouse.

Divorce is often a complicated and difficult process. If you are concerned about your finances, consult with the experienced lawyers at Udall Shumway PLC to learn more about your options.

This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice regarding Credit Score Impacted by Divorce, or other family law issues, please feel free to contact Barry C. Dickerson at 480.461.5300, log on to, or contact an attorney in your area. Udall Shumway PLC is located in Mesa, Arizona and is a full service law firm. We assist Individuals, families, businesses, schools, and municipalities in Mesa and the Phoenix/East Valley.