Keeping track of credit essential during divorce

The divorce process brings about many life changes, especially financial ones. Unfortunately, these sudden changes can quickly make divorcing individuals in New Jersey feel as though their lives are spinning out of control. However, it is possible to regain control of one's financial situation during divorce by staying on top of one's credit.

For starters, it is a good idea for individuals to review their personal credit reports right away. This type of report can show them their current financial obligations -- for instance, their auto loans, credit lines or home loans. This information can come in handy during the divorce proceeding, as the two divorcing spouses will have to decide how to divide their debts along with their assets before finalizing the divorce.

When pulling credit reports, it is important to make sure that the reports feature trade lines, also known as credit accounts. Some reports provide nothing more than the credit scores themselves, which is not enough information to work with during a divorce proceeding. An up-to-date credit report can be obtained via any one of the three key credit bureaus: TransUnion, Equifax or Experian.

When it comes to tackling financial matters during divorce, the best scenario is for the two parties who are getting divorced to find common ground regarding how to split their debts and assets. If this is not possible, a judge will make these decisions for them. Unfortunately, the outcome in this situation may not necessarily be what one or both parties would have wanted. Still, an attorney in New Jersey will push for the best outcome for the client, either outside of court or at trial, given the circumstances of the marital breakup.

No Comments

Leave a comment
Comment Information
Email Us For a Response

Get The Help You Need

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Linwood Office
616 W. Ocean Heights Avenue
Linwood, NJ 08221

Phone: 609-365-1199
Phone: 609-457-0922
Phone: 609-926-7700
Fax: 609-926-1848
Map & Directions

By Appointment Only
1011 Atlantic Avenue
Beach Haven, NJ 08008

Phone: 609-365-1199
Map & Directions

Atlantic City Office
2428 Atlantic Avenue
Atlantic City, NJ 08401

Phone: 609-365-1199
Map & Directions

Vineland Office
1055 E. Landis Avenue
Vineland, NJ 08360

Phone: 609-365-1199
Map & Directions

Marlton Office
30 S. Maple Avenue
Marlton, NJ 08053

Phone: 609-365-1199
Map & Directions