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How to Keep an Ex From Ruining Your Credit Score

Typically, during marriage, couples acquire joint debt which includes mortgages, car loans, and credit cards. Once the divorce process starts, you should take stock of these liabilities and prepare a plan to separate your finances because you will be liable for any existing and added debt. For example, you can close a joint credit account or convert it to an individual account so that your spouse does not continue to spend at your expense. Removing your name from a mortgage will take a negotiated or court settlement, but in the meantime, you are responsible for the monthly payments. Read this article for additional steps to take to protect your credit health.

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