Divorce & Credit Tips Part 2
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This is part 2 of Divorce & Credit Tips
8. Continue to pay your bills on time throughout the divorce. You will need to maintain your good credit rating during this time as you may need it.
9. Make sure to get your financial situation in order before you start divorce proceedings. This will lessen the stress and burden of a divorce
10. Start talking to your creditors and inform them of your current situation. They may be willing to set up a payment plan for you. And will actually be glad that you contacted them first and will be more willing to work with you.
11. Creditors are not required to change joint accounts into individual accounts and may require you to open a new account using her credit. Examples are cell phone bill or home loan in order to remove the spouse from the loan obligation. (this is where you will need to make sure that your debt to income ratio is 36% or lower)
12. Take precise and detailed notes as you speak to your creditors, such as date, who, when and time you spoke to If any creditor.