What Will a Divorce Do to Your Credit?
- Do you want to refinance your marital home or buy a new one?
- Do you need a new car post-divorce to get to your job or to get your kids to school?
- Do you need new credit cards to help with your new start?
- Are you worried about your finances and identity post-divorce?
More than any other time in your life, your credit rating during a divorce matters. As you begin the divorce process, take the time to protect your credit and ensure that you get the financing you need at the rates you deserve.
A Divorce Can Impact Your Credit Just When You Need It Most
A bad credit score can translate to thousands of dollars in extra cost for mortgages, car loans and credit cards. And, in some cases, a very low score will prevent you from obtaining financing at all. Generally, a person’s credit score is directly related to where they are in life. Significant milestones in life, like purchasing a first home, starting a family and even divorce tend to stress finances and impact your score.
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