Some divorce cases are really nasty and contentious. I have been handling divorce cases in Dayton, Ohio for almost 39 years and I have seen some doozies! Clients regularly ask how they can protect their FICO credit score after their divorce is over. There are some very good articles that I’ve linked to below about those suggestions. I want to focus on the option of requesting a credit reporting freeze especially if you were the primary breadwinner.
While we always include language in the Final Decree of Divorce that both parties are prohibited from incurring debt in the name of the other party, there is more that can be done. If the divorce has been unusually contentious and if you believe that your ex-spouse will ignore this court ordered prohibition and create new credit cards under your social security number, then placing the credit reporting freeze may make great sense. By doing this you will prevent the credit reporting agencies from releasing your credit report without your consent. That means no one can get new credit in your name, including you, until you lift the freeze.
If you are in Ohio, read this consumer protection fact sheet: SECURITY FREEZE INFORMATION… Read More... “Credit Score: Little Known Tip to Protect Your Credit After a Nasty Divorce – Request a Credit Reporting Freeze?”