Bad Credit After Divorce - How to Clean Up Your Debt So You Can Move on With Your Life

Bad credit after divorce could be the result of your ex not maintaining joint accounts properly. There are a few things you need to consider while going through the divorce proceedings if you do not want to end up with unhealthy credit scores after divorce. If you are maintaining joint accounts during the divorce, it is important to make the payments regularly. If there is an outstanding amount payable on a common account it will affect both of your credit ratings. After divorce you should close all the common accounts and the accounts in which your ex was an authorized user. You can even ask the creditors to convert these joint accounts into individual ones.
According to the law creditors cannot close a common account after a divorce. However, they can do so if either of the spouses requests them. The creditors are not obliged to change joint accounts into individual ones and can ask you to apply for credit again on an individual basis. They can then deny or extend credit based on your credit report. In the case of home equity loans and mortgage, you may have to opt for refinancing in order to remove a spouse from obligation.
If you own a home jointly or for some reason are unable to close a common account, you can ask the creditor to send you duplicate statements every month so that you can keep an eye on debt being paid by your ex spouse. You should also make sure that the divorce decree mentions that the account password cannot be changed without informing you. Otherwise you may end up having to resort to credit repair. Every credit account that you have should be mentioned in the settlement negotiation and no account can be considered as exempt.
In spite of all these measures if you end up with bad credit after divorce you may need professional help in order to repair the damaged credit. There are many companies specializing in credit repair and you can hire their professional services for a reasonable fee. You can search for such companies on the internet.
Credit report repair is a process that requires a plan. Making sure you achieve your goals within your time frame will result in a higher credit score and more financial possibilities. You may even get a credit report repair by reading through the report and removing any negative items through the process of disputation.  Click the following link below for more information about credit repair :
Erase Bad Credit

View this post on my blog: http://www.mortgagecreditloan.com/mortgage-bad-credit-score/bad-credit-after-divorce-how-to-clean-up-your-debt-so-you-can-move-on-with-your-life.html