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A: A Virginia divorce can affect every part of your life, including your finances and credit score. In most marriages, the couple shares everything, including their money and credit. Your Virginia divorce can certainly affect your credit score if one or both of you accumulated debt during the course of your marriage.
After your divorce, you don't have to live with your ex-husband anymore, or even talk to him if you don't want to, but your financial responsibility for the debt you both created doesn't end with a Virginia divorce.
To save your credit score, you need to take strategic action and address the situation before it gets out of hand. Before you divorce, you and your spouse should take stock of everything you owe and decide who is responsible for which debts. This isn't always as easy as it sounds, particularly if the two of you aren't getting along.
It may be helpful to engage in divorce mediation with the help of a Virginia divorce attorney to help you and your ex work through this and other financial issues. If necessary, a Virginia divorce court can make judgments regarding which partner is responsible for the debts.
If you are found responsible for any portion of the marital debt and think you'll have difficulty paying it off, you can seek help and counseling to address your debt and save your credit score.
If your ex-spouse is found responsible for any debt, be sure to keep documentation of the divorce decree that contains this judgment, and notify your creditors in writing. Otherwise, creditors may continue to seek payment from you.
Contacting a Virginia Divorce Attorney
At this vulnerable time, it's critical that you have exceptional legal representation that not only understands the specifics of your case, but is dedicated to your best interests and that of your family.
The Virginia divorce attorneys at Hofheimer/Ferrebee represent Virginia women who wish to file for divorce. We are committed to fighting for your rights, assisting in child custody disputes, and advocating that you receive everything you are entitled to and need in order to start your new life. You can learn more by requesting one of our FREE divorce guides for women, or reserving your seat at our monthly divorce seminar - 757-425-5200.
What Every Virginia Woman Should Know About Divorce is full of thoughtful steps and practical tips that will help you during your separation, divorce, or child custody case including:
-- 20 guidelines for "separation under the same roof"
-- 13 critical factors used to determine spousal support
-- 3 types of property classification recognized by Virginia courts
-- 10 factors your judge must consider in a contested custody case
-- a formula to determine your percentage share of his retirement benefits
-- 38 Financial Records you should be aware of
-- 20 steps to prepare for divorce
-- 7 stages of divorce
-- 40 age-appropriate books about divorce for children
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