Does it matter who starts the divorce?
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Does it matter who starts the divorce?
While the outcome will always come out that the couple will be separated legally no matter who initiates the divorce, it does matter who divorces whom. A clear disadvantage to being divorced is that you will usually be the one asked and ordered by the court to pay the legal fees that come with the divorce.
How do you split credit card debt in a divorce?
The basicsMost importantly, try to leave your marriage with no joint debt.Pay off the joint cards together or divide up the debt on joint cards and transfer it to cards in each partner’s name.Cancel all undiscussed joint credit cards.Clearly agree to who will pay off the debt on which cards.
Is credit card debt split in a divorce?
When you get a divorce, you are still responsible for any debt in your name. These states go by “community law,” which means that any property and debt accrued during a marriage are split between spouses after a divorce. That includes credit card debt—even credit card debt that is only in one spouse’s name.
Does divorce show up on credit report?
Divorce proceedings don’t affect your credit report or credit scores directly. Rather, you may see an indirect effect because the divorce process often involves splitting up joint accounts, which can very much affect your credit history and credit scores.
