Articles Tagged with credit score

3-1Managing Your Credit Score During Divorce

You work hard for years to maintain a good credit history and score. When you are married, you and your spouse are usually responsible for the debts that you incur. Although you may always pay your bills on time and keep a good credit to debt ratio, you could face some credit challenges during and after your divorce. Even when couples agree to end their marriage, they may disagree about finances. In North Carolina, when couples divorce their marital property, including debts are to be divided equally.

Marital Debts

Board Certified Family Law Specialist Matt Arnold answers the question: “How much does it cost to get divorced, and how does the billing process work?”

Going through a divorce can be stressful. You are suddenly tasked with splitting up a life that you built with another person and dividing all of your possessions, assets, and debts between you. In North Carolina, marital property is distributed under the premise of equitable distribution. This means that property is split according to what is fair, not necessarily equal, for each of the individuals. After the property distribution is settled and your divorce agreement is in place, there are additional financial considerations that will impact all divorced individuals.

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