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Credit Issues

Home/Divorce & Family Law/Credit Issues
Credit Issuesbeharris2020-04-18T14:27:47-04:00

Will my divorce affect my credit score?

In short, it usually will. If you have shared credit with your spouse, and you have accumulated debt together, then your credit score can definitely be affected. Just because you are divorced does not mean your responsibility for the debt created by the both of you ends. This is a good example of when collaboration works well. If the husband and wife can sit down and decide who will be responsible for what debt, this will certainly help. If it is impossible to pay off the debt, then it will certainly help to get credit counseling to address your debt In a manner that least affects your credit score.

When doing a Separation Agreement, these issues are specifically addressed. Creditors should be made aware of your Agreement should they attempt to collect on an obligation your spouse agreed to pay.

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    Nichols Law, Attorneys & Lawyers, Chesapeake, VA

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    Ralph E. Nichols, Jr., Esquire
    Law Offices of Ralph E. Nichols, Jr., P.C.
    1403 Greenbrier Parkway, Suite 150
    Chesapeake, VA 23320
    Phone: (757) 548-0232
    E-mail: ralphnicholspc@cox.net

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    The Law Offices of Ralph Nichols, Jr. P.C. provides family law, divorce and separation services, child custody representation, business formation and operating agreements, Wills, Trusts, Estate Lawyer services and more to the Hampton Roads areas of Chesapeake, Suffolk, Norfolk, Isle of Wight, Portsmouth, Newport News, Hampton, Poquoson, Williamsburg and surrounding areas.

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    I cannot answer e-mail questions due to a possible conflict of interest. For example, e-mails can come from various sources and to give advice in a dispute is a conflict of interest if conflicting parties contact me.
    The answers to these questions do not constitute legal advice, nor do they constitute the formation of a client-lawyer relationship, but are provided for general information purposes only and should not be understood as a substitute for personal legal advice. Therefore, until an attorney-client relationship is formed through a Retainer Agreement, visitors’ information may not be kept confidential, or prevent representation of an adverse party.
    Ralph E. Nichols, Jr., Esquire, a professional corporation. All rights reserved.
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