Menu Menu Contact Contact
To protect your safety during the coronavirus (COVID-19) crisis, we “strongly encourage” telephone and video conferences, versus face-to-face meetings. Please contact our office today to set up a remote consultation. For more information, read our blog post.

MISSOURI, ILLINOIS, KANSAS & OKLAHOMA FAMILY LAW ATTORNEYS

Here to Help You Rebuild Your Life™

Legal Services At Stange Law Firm

Our Legal Services

What should you know about credit and divorce?

15892827_s.jpgWhile divorcing, one of the things you and your spouse will need to deal with is your marital estate. Your estate will need to be divided. When you do that, you should keep in mind that changing the arrangement of your accounts can have an impact on your credit.

To start with, you should know that there are two kinds of accounts, individual or joint. Joint accounts have both your name and your spouse's name attached. You may want to close joint accounts before or following your divorce and to move your assets or debts into new, separate accounts.

There are some negatives to having to close accounts, though. For instance, if you don't normally work, you could find that it's harder to obtain a credit line in your name without your spouse's signature. You could also see your credit score drop when the account is closed.

Another thing to remember is that combining financial resources can make you look like a better borrower to a lender because there is more than one person to seek payments from. When you separate, you should always close joint accounts. If you don't and your spouse runs up a bill, then you could be on the hook.

Creditors won't close your joint accounts just because of your divorce, but they will if you ask them to. Your creditor may also ask you to reapply based on your individual income, which could change how much credit line access you have.

If you're concerned about your credit, you may want to talk to your attorney before deciding on how you'll divide assets and debts with your spouse.

No Comments

Leave a comment
Comment Information

Contact Our Team To Get Help Now

Tell us about your case and we’ll get back to you promptly.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Stange Logo

MAIN OFFICE LOCATION

Stange Law Firm, PC
120 S. Central Avenue
Suite 450
St. Louis (Clayton), Missouri 63105

St. Louis Law Office Map

Toll Free: 855-805-0595
Fax: 314-963-9191
View Other Locations

DHQ | Divorce Headquarters Divorce
Headquarters ® App Download The App
Pay Your Bill Online
States of Service

Other Office Locations

  • Saint Louis County: 120 S. Central Ave., Suite 450, Clayton, MO 63105: Clayton Office
  • West County: 16024 Manchester Rd., Suite 103, Ellisville, MO 63011: Ellisville Office
  • Jackson County: 256 NE Tudor Rd., Lee's Summit, Missouri 64086: Lee's Summit Office
  • Jefferson County: 16 Municipal Drive, Suite C, Arnold, MO 63010: Arnold Office
  • St. Charles County: 2268 Bluestone Drive, St. Charles, MO 63303: St. Charles Office
  • Franklin County: 5 S. Oak St. Union, MO 63084: Union Office
  • Lincoln County: 20 Centerline Drive, Troy, Missouri 63379: Troy Office
  • Boone County: 1506 Chapel Hill Rd., Suite H, Columbia, MO 65203: Columbia Office
  • Greene County: 901 E. St. Louis, Suite 404, Springfield, Missouri 65806: Springfield, MO Office
  • St. Clair County: 115 Lincoln Place Ct., Ste. 101, Belleville, IL 62221: Belleville Office
  • Madison County: 25 Professional Park, Suite B, Maryville, Illinois 62062: Maryville Office
  • Sangamon County: 400 S. 9th St., Suite 100, Springfield, IL 62701: Springfield Office
  • McLean County: 1012 Ekstam Drive, Suite 4, Bloomington, IL 61704: Bloomington Office
  • Johnson County: 7300 West 110th Street, Suite 560, Overland Park, KS 62210: Overland Park Office
  • Sedgwick County: 2024 N. Woodlawn Street, Suite 407, Wichita, Kansas 67208: Wichita Office
  • Shawnee County: 800 SW Jackson Street, Suite 812, Topeka, Kansas 66612: Topeka Office
  • Tulsa County: 6660 S. Sheridan Road, Suite 240, Tulsa, Oklahoma 74133:  Tulsa Office
  • Oklahoma County: 2601 NW Expressway, Suite 411 W, Oklahoma City, OK 73112:  Oklahoma City Office
  • Monroe County: 116 W. Mill St., Waterloo, IL 62298 (by appt. only): Waterloo Office
  • St. Louis City: 100 S. 4th St., #549, St. Louis, MO 63102 (by appt. only): St. Louis Office
  • Jackson County: 2300 Main St., #948, Kansas City, MO 64108 (by appt. only): Kansas City Office

The choice of a lawyer is an important decision & should not be based solely upon advertisements. See additional disclaimers here.