Having a great credit score allows you to obtain the best possible rates on loans and insurance. Your credit score impacts other aspects of your life. Improving your credit score is important for financial stability and independence, especially during and after a divorce.
We pull a tri-merge credit report and an analysis that allows both you and us to fully review all aspects of your credit report. We will see if there are any collections and/or judgements that you may or may not be aware. A determination is made if, when and how to resolve these accounts.
Any new inquiries into your credit will also be listed which is critical in a divorce as your spouse could open credit in your name without your knowledge.
The analysis allows us to determine the best next steps to improve your credit score.
We review your report carefully for any errors, inaccuracies, or fraudulent activity.
If necessary, you may need to dispute and rectify any incorrect information.
If you share joint accounts with your spouse, work on separating your finances. Close joint credit accounts or transfer them into individual accounts to prevent further joint liabilities.
Consistently paying your bills on time is one of the most critical factors affecting your credit score. Set up reminders or automatic payments to ensure you never miss a due date.
Focus on paying down existing debts, especially high-interest credit card balances. Aim to keep your credit card balances well below their credit limits (ideally, below 30% utilization).
While it's essential to have credit accounts to build a positive credit history, avoid opening too many new accounts too quickly, as this can negatively impact your score.
If you don't have much credit history in your name, consider applying for a secured credit card or becoming an authorized user on someone else's account to establish positive credit history.
Stay informed about your financial situation, including monitoring your credit reports regularly. You can use free credit monitoring services to keep track of changes in your credit score.
Improving your credit score takes time, so be patient and persistent in your efforts. As you consistently follow good financial habits, your credit score will gradually improve. We are here as part to help monitor your credit and offer suggestions on improving your score.