Does getting a divorce ruin your credit?
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Does getting a divorce ruin your credit?
Filing for divorce and divorce proceedings will not impact credit reports or credit scores. If joint credit accounts are not paid as agreed, your credit reports and credit scores may be impacted.
Is it better to get a legal separation before a divorce?
A legal separation is reversible. If you get divorced, there is no going back. Legal separations may also be easier for your children, because you remain married and it does not sound as devastating and final as a divorce. In some states, a separation is required before you can get a divorce under certain grounds.
What does legal separation protect you from?
Most importantly, a legal separation agreement will protect you from being responsible for any debt your spouse acquires during the period of separation if you live in an equitable distribution state. If you live in a community property state, you don't get this protection under a legal separation agreement.
