Establishing Your Own Credit After a Chesapeake, Virginia Divorce
If you're considering speaking with a divorce attorney in Chesapeake about ending your marriage, you have a lot to think about. Establishing credit is one of the financial aspects of your post-divorce life that you should start planning for now.
Independence is an important part of building a life after your marriage ends. The modus operandi of a marriage is that the partners become emotionally and financially entangled. This of course makes it quite difficult to strike out on your own after the relationship ends.
Taking control of your credit is an important part of reaching financial independence. Establishing credit takes time; while it can be done after divorce, you may choose to begin early – for example, during the separation – for best results.
If you want to remove yourself from your husband's credit cards, you will have to do one of two things. If the card is in his name and you're an authorized user, either you or he can call the bank or credit card company to have your name removed.
If it's a joint account, it's usually more complicated because the line of credit was granted based on both of your credit histories and incomes. Because of this, it's sometimes wiser to simply close joint accounts.
If there are debts, you and your husband will have to arrange to pay them off. Sometimes, there's a dispute between the partners about who should pay the debt. This can be addressed by the courts with the help of your Chesapeake divorce attorney in some cases.
Once you remove yourself from any joint accounts with your husband and have your credit issues under control, you can focus on applying for your own credit card. If you're just starting out or have so-so credit, you will likely start with a small line of credit and work your way up. Make small purchases and pay them off by the due date to get off to a good, clean start.
Contacting a Chesapeake Divorce Attorney
The decision to file for divorce usually comes at the end of a long and painful journey. In addition to the emotional turmoil involved, there’s also a lot of fear and uncertainty about what the future holds. Concerns about children, mortgages, and even just paying the bills or buying groceries can easily become overwhelming.
A divorce lawyer at Hofheimer/Ferrebee can examine the specifics of your case to help you decide how much support to ask for, what child custody arrangement will work best for you and your children, and how to fairly divide your marital assets. Request a FREE copy of our divorce book for women in Virginia, or reserve your seat at our monthly divorce seminar. Call 757-425-5200 to speak with a divorce attorney in Chesapeake.