{"id":2944,"date":"2017-08-10T10:41:08","date_gmt":"2017-08-10T14:41:08","guid":{"rendered":"https:\/\/www.lindabury.com\/firm\/?p=2944"},"modified":"2017-08-10T11:10:07","modified_gmt":"2017-08-10T15:10:07","slug":"protecting-credit-divorce","status":"publish","type":"post","link":"https:\/\/www.lindabury.com\/firm\/insights\/protecting-credit-divorce.html","title":{"rendered":"Protecting Your Credit; Before, During and After a Divorce"},"content":{"rendered":"<p>Unfortunately, at the time a divorce is finalized an individual can encounter new and unanticipated financial obligations. \u00a0Any debt that was incurred during the marriage and will not be paid off at the time of divorce needs to be addressed in the parties\u2019 settlement agreement. \u00a0It is important that any written settlement reached between the divorcing parties be thorough and clear as to which of the parties is responsible for a particular debt and how and when that person will satisfy that debt.\u00a0Unfortunately, at the time a divorce is finalized an individual can encounter new and unanticipated financial obligations. \u00a0Any debt that was incurred during the marriage and will not be paid off at the time of divorce needs to be addressed in the parties\u2019 settlement agreement. \u00a0It is important that any written settlement reached between the divorcing parties be thorough and clear as to which of the parties is responsible for a particular debt and how and when that person will satisfy that debt.<\/p>\n<p>The entry of a divorce judgment does not alleviate the joint responsibility for a joint debt. \u00a0As an example, should one party agree to pay the balance due on a joint credit card debt in its entirety, and then fail to subsequently do so, the credit card company can pursue its claim against both of the individuals named on the account. The creditor is not bound by any agreement made between the divorced parties.<\/p>\n<p>Additionally if payments are late or not made, the Lender or the bank that provided the credit can report negative information to the credit reporting companies. This can affect not only the credit rating of the party who was responsible to make the payments but possibly the other party as well.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.lindabury.com\/firm\/insights\/protecting-credit-divorce.html\"  title=\"Continue Reading Protecting Your Credit; Before, During and After a Divorce\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Unfortunately, at the time a divorce is finalized an individual can encounter new and unanticipated financial obligations. \u00a0Any debt that was incurred during the marriage and will not be paid off at the time of divorce needs to be addressed in the parties\u2019 settlement agreement. \u00a0It is important that any written settlement reached between the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[246,65,93],"tags":[],"coauthors":[186],"class_list":["post-2944","post","type-post","status-publish","format-standard","hentry","category-divorce-family-law-insights","category-insights","category-mcglew"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Protecting Your Credit; Before, During and After a Divorce &#8212; August 10, 2017 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. Firm News &amp; Events<\/title>\n<meta name=\"description\" content=\"Unfortunately, at the time a divorce is finalized an individual can encounter new and unanticipated financial obligations. \u00a0Any debt that was incurred\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lindabury.com\/firm\/insights\/protecting-credit-divorce.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Protecting Your Credit; Before, During and After a Divorce &#8212; August 10, 2017 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. 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Firm News &amp; Events\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-10T14:41:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-08-10T15:10:07+00:00\" \/>\n<meta name=\"author\" content=\"James McGlew, II\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"James McGlew, II\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Protecting Your Credit; Before, During and After a Divorce &#8212; August 10, 2017 &#8212; Lindabury, McCormick, Estabrook &amp; Cooper, P.C. 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