One of the most unsettling parts of a divorce proceeding for a couple in New York is not to see eye-to-eye with a spouse when it comes to the financial aspect of the split-up. This is particularly true if the two individuals have joint accounts for which they both are responsible. A few tips will help a person to navigate the murky waters of divorce when his or her credit score is at risk of being damaged due to the other party’s actions.
First, it’s helpful to settle up with a soon-to-be ex as soon as possible. For example, a person can avoid many headaches if he or she is able to complete making payments on joint debts with a spouse before drawing up divorce papers or during the divorce. It might be necessary to use available savings or cash to wipe out this debt. The couple may even use the profits from selling their marital home to get rid of the debt.