Filing for divorce in Alabama doesn’t just affect your finances and housing situation: It can also affect your credit score. Some people find it harder to make their credit card payments after getting divorced. Others have vindictive spouses who tank their credit scores in an act of revenge. If you’re thinking about getting divorced, take some time to get your finances in order.
How can divorce affect your credit?
When you and your spouse were married, you might have taken out a joint credit card together. During the divorce, a judge might order your former spouse to take on the credit card debt. This might sound like a good thing, but if your former spouse doesn’t keep up with their payments, your credit score will also take a hit. Some people even deliberately miss payments to destroy their former spouse’s credit score.
You might also have trouble managing your expenses after you get divorced. Now that you’re living on your own, you’ll only have a single income. You might fall behind on credit card payments or take out loans to pay for your living expenses. Some individuals qualify for spousal support, but if a judge rules that you can support yourself, you’ll have to figure out how to survive on one paycheck. A family law attorney may tell you what to expect after you get divorced.
Is divorce worth all the effort?
Filing for divorce can be stressful and time-consuming. Once it’s over, you might have to live by yourself for a while, possibly for the first time in decades. Many people are afraid of what will happen after they get divorced. It might not be easy, but an attorney may help prepare you for your new independent lifestyle. They may also help you make decisions during the divorce process to set you up for future financial success.