How Can I Protect My Credit Score During My Divorce?

One of the most heated aspects of a divorce is separating finances between spouses. In some divorces, the arguments about money can get out of hand, and one spouse might attempt to financially ruin the other by deliberately doing damage to their credit score. This can be accomplished a number of ways, from maxing out existing credit accounts to borrowing money without the other spouse’s knowledge. If you're divorcing from your spouse, or planning to divorce, you need to make sure you protect your finances, especially your credit rating. In this blog, we explain how to protect your credit during your divorce.

Consider Closing All Joint Accounts

Both you and your spouse are equally responsible for the debt on any of your joint credit accounts. If you leave an account open, your ex-spouse can add more debt, make late payments, miss a payment altogether, or default on an account. Unfortunately, because your creditors report account activity to the credit bureau in both of your names, you will also be held responsible for your spouse’s actions.

Consider Notifying Creditors About Your Divorce

After you close or pay off your joint credit cards, you should send a certified letter of notice about your divorce to your credit card companies and banks. Ask your lenders to give you a current account statement and inform them that you don’t intend to be held liable for any debt accumulated after the date on your letter. Request for your account to be put on inactive status to ensure that no additional charges are added. Make sure you state that you want the account to be closed completely once the balance is fully paid off.

Update Your Address

If you move out of the house, you need to submit a change of address at your post office or update it online at Make sure that any bills, credit card statements, or other important financial correspondences in your name are forwarded to your new residence.

Are you worried that your spouse is attempting to ruin your credit score? Contact our St. Louis divorce lawyer to find out how we can help you today. We offer free, in-person case consultations.

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