A new start: Steps to reestablishing credit after divorce

The financial outlook you and your spouse shared may change dramatically after your divorce in Georgia. The judge will attempt to make the division of assets and debt fair based the individual income and circumstances of you and your spouse, but the final decree may still result in a situation that is financially challenging. Having good credit may be essential to getting your life reinstated. We at The Siemon Law Firm often provide legal advice about the effects of property division after divorce.

Any joint credit cards or accounts should be canceled as soon as possible. You will still both be responsible for the shared debt, so it is important to prevent your spouse from increasing the amount that will be split between you.

AARP reports that before you begin applying for new accounts to replace the credit cards you shared with your spouse, you may benefit from ordering your credit reports. Evaluating the records provided by Equifax, Experian and TransUnion allows you to analyze your situation and identify inaccuracies that may be corrected.

A secured credit card may be an option if you feel that you need to rebuild your credit, but you are not able to qualify for a traditional card. In addition to maintaining the new account, it is essential to meet all the regular payments due for debts from before the divorce so that there is no further damage to your credit report. More information about the financial aspects of divorce is available on our web page.

How The Siemon Law Firm Can Help

Contact our Georgia Family Law Firm by calling 770-888-5120 or by completing this contact form.

An attorney will respond within 24 business hours.

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    Cumming, Georgia

    347 Dahlonega Street
    Building 100
    Cumming, GA 30040 770-888-5120 Cumming Law Office Map

    Marietta, Georgia

    One Parkway Center
    1850 Parkway Place, Suite 715
    Marietta, GA 30067 770-888-5312 Marietta Law Office Map

    Alpharetta, Georgia

    4555 Mansell Road
    Suite 300
    Alpharetta, GA 30022 770-888-5093 Alpharetta Law Office Map

    Atlanta, Georgia

    3400 Peachtree Rd NE
    Suite 555
    Atlanta, GA 30326 770-888-5078 Atlanta Law Office Map