Rebuilding credit after an expensive divorce. Divorces can be incredibly expensive, time-consuming, and emotionally draining. Divorces cost more the longer they take to resolve because most divorce attorneys charge by the hour. They have to charge by the hour because it is practically impossible to know how long and how much work that it will take for a divorce to be finalized. Because of this, an expensive divorce in Madison County may affect your credit in a negative way. If it does, you can rebuild your credit. However, you must remember that rebuilding your credit is going to be a marathon not a sprint. It takes time. 
There are numerous ways to rebuild your credit after an expensive divorce. First, you should check your credit score and set up reminders to periodically check it. This way, you will know your starting point, and you will be able to track your progress. This will also ensure that you are able to catch any errors, and it allows you to see what is affecting your credit score the most. Next, you should make a manageable budget and stick to it. You need to calculate your monthly expenses and give yourself a little extra in case something unexpected happens. If your budget is unreasonable, then you will not stick to it, and it will be hard to stay accountable with your money. Then, you should speak with your ex-spouse about any joint-debts and have them separated between the two of you appropriately. This is usually addressed in the divorce settlement agreement if you had an uncontested divorce in Limestone County, or anywhere else in Alabama, but if it is not, then you need to make sure it gets done sooner rather than later.
Additionally, you should check and make sure that your ex-spouse is no longer connected to any of your accounts. If they still have access to your accounts, your credit score may be affected by their decisions despite all of your efforts to rebuild it. If you do not have any credit accounts that are solely in your name, then your next step should be to open one. If you will be changing your name after the Shelby County divorce, then you should open the new credit with your new name. Then, you need to make consistent on-time payments every month because it will reflect that you are responsible with your money. Also, do not make any large purchases that you know you will not be able to afford. It will only hurt your credit score. Lastly, it is imperative that you only utilize the amount of credit that you truly need to use because it will help your score improve if you keep it as low as you can.
Divorces in Jefferson County may take a while, and they may even hurt your credit score in the process, which could make the entire experience even more stressful and upsetting. However, it is important that you remain positive and motivated because you are capable of rebuilding your credit after an expensive divorce. It is recommended that you make a plan to rebuild your credit and implement it in your daily life. Do not make it optional. Instead, set specific goals, and try not to lose focus on them. Rebuilding your credit may take some time, but it is possible.
Attorney Steven A. Harris regularly blogs in the areas of family law, bankruptcy, probate, and real estate closings on this website. Mr. Harris tries to provide informative information to the public in easily digestible formats. Hopefully you enjoyed this article and feel free to supply feedback. We appreciate our readers & love to hear from you!