Can A Divorce Affect Your Credit Score?

During the divorce process, a person has a lot on his or her mind. From the finances to the children, a divorce can affect many aspects of a person’s life; however, one aspect often doesn’t cross people’s minds: their credit score. Divorce does not directly affect a person’s credit score, but many people suffer from credit damage after a divorce. In short, a divorce would then indirectly cause credit problems due to financial issues.

Below, we’ve listed two major ways a divorce can indirectly hurt your credit rating:

  1. No one is paying the joint bills – If the parties had joint credit cards or mortgages, they need to be paid…by someone. If your ex-spouse was ruled to pay the amount, and doesn’t, this can bring down your credit score because the bill is in your name as well.
  2. You Can’t Keep Up with bills – If your expenses are greater than your income, or you spent a lot on the divorce, it may be hard for you to pay your bills in the aftermath of it all. Late payments will hurt a credit score.

Fortunately, there are ways you can solve the above problems and prepare yourself so you don’t get into a messy financial situation that lowers your credit score. Here are some tips:

  • Make payments on bills your ex-spouse isn’t paying.
  • Increase your income so you can pay all bills as a newly single person.
  • Decrease your expenses so money can go toward paying bills.
  • Remove your ex-spouse from your credit accounts.
  • Stay on top of all payments.
  • Adjust your lifestyle to your new, reduced income. This may including moving to a smaller home or apartment or selling your car for a less expensive one, or even going to restaurants less.
  • Create a budget to see what you can or cannot afford. If you need help, reach out to a financial advisor.

Once you establish your own separate credit accounts and adjust your lifestyle to your new situation, you will be able to keep your credit score from plummeting. Make sure to check your credit report and credit score to see where you stand.

If you’re looking for a legal consultation or advice in the practice of divorce law, contact Sustainable Family Solutions. Sustainable Family Solutions works with clients in Broward County and other parts of South Florida. Click here for more information.

I may need a divorce.
Hi, I’m Lori Barkus, a family law attorney. My Colorado and Florida-based law firm helps women have a successful divorce by achieving the fairest resolution in the most efficient manner possible. And today, I’d like to talk to you about the what-ifs of divorce. Let’s say you’re thinking about divorce, or maybe your spouse has shared some shocking and devastating news about a betrayal or told you that they’re thinking about divorce, and you’re completely caught off guard by this. You’re still determining what you want at this point. You might still be thinking, maybe I can still save my marriage, or it might be unavoidable and the process is moving forward. Your friends and family are telling you that you should go forward. They’re telling you, you should talk to an attorney. You have so much going on. You know you need help but you’re trying to figure out where to go.

We can help with this situation, because it’s something that my firm and I have faced many times over the years. In fact, we’ve seen cases like this so often that we’ve created an offering specifically for you. We do what’s called a strategy session, and the purpose of this session is to answer all of those what-ifs? We’re here to help you, not just tell you that you should go forward with divorce. We want you to understand what would happen if this goes forward. We want you to know what the process looks like. We want to answer your question about mediation. What is it? Is it right for you? What can you expect in terms of custody of your kids? Would you get alimony? Would you pay alimony? How does child support work? What if you want to keep your house? Maybe you’re concerned that your partner is hiding money.

We can answer all of these questions and more. We can also provide resources to help you understand your financial picture and help support you in making the decision. That’s what we’re here to do. We want you to determine if the marriage can be saved and if divorce is the right step for you, and if it is, we want to make your divorce a successful one. If you have any questions, please get in touch.
Divorce FAQs

A divorce mediator is a neutral party who does not represent either person in a divorce. They can help you and your spouse reach an agreement on all divorce-related issues such as child support, parenting plans, dividing property and spousal support. Divorce mediation usually works best when both parties generally agree on how they want to resolve the various issues and are on amicable terms. At Barkus law, we provide a service that includes both mediation time to discuss and work out the details of your divorce as well as the preparation of all divorce-related documents you will need to file with the court. Although she is a family law attorney, in her role as a mediator, Lori Barkus cannot file paperwork on your behalf, nor can she provide you with legal advice. However, she can prepare all of the documents for you and give you detailed step-by-step instructions about how to file your paperwork. Should you have legal questions or require that paperwork filed on your behalf, you should speak with a qualified attorney about your rights and obligations before and even during the mediation process. Mediation is a low-cost and less stressful way to “untie the knot.” Sustainable Family Solutions offers a flat fee for the mediation process and an additional fee for preparing the documents you need to file with the court. Please call us for details.

In a collaborative divorce, both parties are represented by separate attorneys. The parties and their lawyers sign an agreement not to go to court and instead work together to create an agreement that is best for the parties and their children. The parties can end the process if it does not work, but, if they go to court to have a judge decide, they will each need to hire another lawyer. This keeps the lawyers and parties invested in reaching an agreement. Collaborative divorce can cost far less than a traditional or litigated divorce and can help preserve the family and keep children out of the process. If you are interested in a consultation or have questions, do not hesitate to contact Sustainable Family Solutions. Simply click here and send us a message and we’ll get right back to you.

In order to obtain a divorce, one party needs to state that he or she has lived in Florida for six months and that the marriage is irretrievably broken.
A divorce can be granted over one party’s objection. As long as one party meets residency requirements and states that the marriage is irretrievably broken, there is no way to object to or to stop the divorce process from moving forward.

While you are not required to have a lawyer represent you, not having a lawyer can put you at a disadvantage. It is very important that you understand your rights and obligations before you reach any settlement or go to court. You may decide to seek legal advice or representation if you have questions about your rights in the divorce process.

While alimony can be modified, requesting a modification doesn’t mean you’ll get one. It’s not a matter of simply going before a judge and telling them that you no longer can pay what you have been paying your ex-spouse. These cases must be prepared carefully and those seeking a modification must be able to state a legal basis for the change. Under Florida statute 61.13, the trial court judge has the discretion as to whether alimony will be modified. It provides that when “the circumstances or the financial ability of either party changes” either party may apply for an order decreasing or increasing the amount of alimony and the court has jurisdiction to make orders as equity requires, with “due regard to the changed circumstances of the financial ability of the parties.” The party seeking the modification carries the burden to justify the reduction by having to prove a substantial change in circumstances since the original alimony order and that the change in circumstances was not contemplated at the time of the final order of dissolution. The change also has to be “sufficient, material, involuntary and permanent in nature.” In other words, the party seeking a reduction can’t quit a job that paid them $100,000 a year and accept a job that pays significantly less. When it comes to being permanent in nature, this depends on the facts and circumstances of a particular case. Should the spouse paying alimony choose to retire, the court can take that into consideration. However, that doesn’t mean there will be an automatic reduction or termination of alimony. The court has to consider the age of the payor, his or her health, and the reason for their decision to retire as well as the financial circumstances of the recipient. There are many scenarios that can be contemplated when seeking modification of alimony. Modifications require the consultation and assistance of an attorney who understands the process, the risks and the likelihood of success. If you are interested in a consultation or have questions do not hesitate to contact Sustainable Family Solutions. Simply click here and send us a message and we will get right back to you.

The goal of shared parenting is for parents to collaborate and to remain actively involved in their child’s life, not just on weekends or holidays. In most cases, parents share parental responsibility and make decisions together regarding education, health, and other important matters. Timesharing refers to the time each parent is allowed to spend with the child or children. In more and more cases, parents have equal or nearly equal timesharing with the children. Historically, most children whose parents divorce have spent a majority of their time living with one parent — usually the mother — with the other parent getting visitation rights. However, there has been a big push in recent years to balance the amount of time children spend with both parents, giving parents the opportunity to be actively involved in the raising of their children. In most states, including Florida, judges make custody decisions based on a”best interest of the child” standard. However, judges need not explain the reason(s) for their decisions. Several states have gone so far as to pass shared parenting legislation. In 2013, Florida lawmakers approved an alimony reform law that included a provision for shared parenting. However, Gov. Rick Scott vetoed the bill. Equal timesharing isn’t for everyone and works best for those who are ready, willing and able to take on responsibilities for their child. If you are interested in a consultation or have questions do not hesitate to contact Sustainable Family Solutions. Simply click here and send us a message and we will get right back to you.

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