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DuPage County divorce attorney

Marriage may look bright and shiny on the outside, but it can be a difficult relationship to maintain over the years. As people change, sometimes their partners do not change alongside them. No couple stays the same throughout the entirety of their marriage. For some couples, this can lead to new adventures throughout life’s stages, while for others, it can cause them to grow apart with no hope for reconciliation. Every marriage is unique, but there are a few common denominators that experts have found to be frequent causes of divorce

Money, Money, Money

In the past, many couples got married at a young age, meaning that they often did not have much money to their names. This has shifted in the last decade, as millennials decide to wait a little longer before tying the knot. Money troubles are common for young couples looking to start a life together. Rather than taking the time to build up a fair amount of savings, these couples can find themselves struggling to pay their bills, putting their relationship on the back burner. Although this is common with younger couples, those who get married later are far from exempt from financial issues. Some are used to being independent and find it difficult to share finances with their partner, while others run into hard times financially due to a job loss or medical care costs. Regardless of the reason, disagreements regarding money are common for all couples, and they can sometimes make or break a relationship.

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Wheaton, IL divorce attorneyEvery couple is different, but it is not uncommon for one spouse to have most of the responsibility when it comes to the family’s finances. This can be troublesome during a divorce, because the spouse who did not handle the money during the marriage often gets the short end of the stick, especially when it comes to the asset division process. Divorce can wreak havoc on your financial well-being, especially when it comes to your credit score. If you are getting divorced, it is important to take control of your finances and ensure you come out of the divorce without taking a huge hit to your financial health and credit score.

Tips to Maintain and Improve Your Credit Score

Simply getting a divorce will not affect your credit score. However, other things that happen during a divorce can affect your credit for the worse. To protect your credit score and make sure you come out of the divorce with acceptable credit, here are a few tips you should follow:

  • Joint accounts should be closed. If you and your spouse share any checking, savings, or credit card accounts, you should stop using these accounts and close them immediately, if possible. If your spouse has control over an account with your name on it, you may be responsible for any charges or expenditures they make. Leaving accounts open, especially credit card accounts, is playing with fire.

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