Divorcing? 7 Tips for Financial Clarity During a Turbulent Time
Divorce can wreak havoc on your credit and finances. Use these seven tips to gain financial clarity during this turbulent time in your life.
Pull Your Credit Report
Before filing for divorce, you should pull your credit report. Even if you retain a spousal support lawyer Ontario filers like you will need this report on hand. It shows you what debts are in your name and can also be used to back up your request for alimony after divorce.
Pay Off Small Debts
According to your alimony attorney Ontario claimants like you can benefit by paying off small debts, even those that are jointly held. Paying off the debts also frees up more money in your alimony after divorce.
Divide Remaining Debts
After hiring an alimony attorney Ontario clients in your situation will need to ask the judge to divide the remaining debts that you share with your spouse. With the help of your spousal support lawyer Ontario filers like you can walk away with just your fair share of debts and nothing that your spouse should rightfully pay.
Get a Credit Card in Your Name
To maintain or rebuild your credit during or after divorce, you need to open a credit card in your name. Most lawyers for alimony in Ontario will have you do this before the divorce is final. The lawyers for alimony in Ontario can also advise you on the best cards to open based on your finances and credit situation.
File for Bankruptcy if Needed
When you owe money for medical bills or other expenses that you cannot pay on your own, consider filing for bankruptcy. With the guidance of a family law attorney Ontario you will have help along the way.
Avoid Major Purchases
When you file for divorce, you need to wait to make major purchases like a car or house. You should avoid making such purchases when you are in financial turmoil. Wait until after your divorce is final and you are awarded spousal support.
Hire an Attorney
Finally, you need to retain an experienced divorce attorney to represent you from Day One in your divorce. Your attorney has experience helping clients in your financial situation. He or she can advise you on how to regain financial clarity during a time in your life that will be undoubtedly turbulent and full of uncertainty for weeks or months.
These seven tips are critical for gaining financial clarity during and after your divorce. The legal process will fill you with uncertainty and be turbulent to experience. You can maintain control of your money, rebuild your credit and start your life anew as a single person. You can also benefit from hiring an experienced alimony attorney to advise you during your divorce.
