Can divorce affect your credit score?
Table of Contents
Can divorce affect your credit score?
And you may be wondering if a divorce affects your credit reports and credit scores. First, filing for divorce \u2013 or the actual divorce proceedings \u2013 will not impact credit reports or credit scores. If you and your former spouse have kept separate finances, you’re likely to see no direct impact on them either.
How bad is a credit score of 590?
Your score falls within the range of scores, from 580 to 669, considered Fair. A 590 FICO\xae Score is below the average credit score. Some lenders see consumers with scores in the Fair range as having unfavorable credit, and may decline their credit applications.
Why does your credit score drop when you get divorced?
If the spouse responsible under the divorce decree is unable or unwilling to pay and the contract has not been changed by the lender, the late payments still will appear on both credit reports and will have a negative impact on credit scores for both individuals.
