How an Annapolis, MD Divorce Can Harm Your Credit
Divorce can bring a variety of difficulties to those who experience them. The loss of income, the separation of you and your children and the possibility of having to move out of your home are some of the challenges that often come to mind. One you may not have thought of, however, is your credit. Unfortunately, an Annapolis, MD divorce can harm your credit, and heres how:
Your Ex Defaults
If your ex decides to stop paying bills that are in both of your names, or in your name alone, your credit could be negatively affected. The companies that receive late payments may report the delinquency. This default could show up on your credit report and hurt your credit score, even if your ex is to blame.
You Cant Pay Your Bills
Those who become divorced often find going from a household that has two incomes to one, shocking. This is often particularly so when one spouse makes more money than the other. Having to pay your bills without the help of your spouse could be next to impossible, and your credit score could pay the price.
You Have More Debt
If you and your ex have shared debt, you may still be held partly responsible for the payments after your Annapolis divorce. Or, you may end up being responsible for the added bill, and might not be able to pay for it. Not being able to cover the costs of this extra bill could damage your credit.
Experiencing an Annapolis, MD divorce can present difficulties of a variety of levels. Dont be left in the dark when it comes to these challenges: contact an experienced lawyer so you can prepare yourself for what to expect.
Contact the Anne Arundel County family law attorneys of Jimeno and Gray by calling (888) 903-5514. We can tell you what to expect during this time of transition. Request your free copy of the book What Your Spouse Doesnt Want You to Know: The Ultimate Guide to Divorce in Maryland, written by Annapolis family law attorney Frank C. Gray, Jr., when you call.’