 Posted: Fri 12:39, 11 Oct 2013 Post subject: barbour paris Considering Divorce Here Are Tips T |
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| Protecting your credit before the divorce
A looming divorce can be stressful on anyone and in the heat of the moment people who once shared love and respect can do terrible hurtful things to each other. If care is not taken during this stressful time, divorcees can find themselves in hot water later on down the track, worse still it is possible that serious damage can be done to an individual's credit rating. It is in your best interest to make sure that your credit and good name are protected before, during and after divorce. By [url=http://www.ithrb.net/home.php?mod=space&uid=44&do=blog&quickforward=1&id=7458]air jordan pas cher Nursing Profession[/url] taking a few precautionary steps, and having a solid understanding of the way your accounts work, before the divorce begins will mean that a recent divorcee wont have quite so many pieces to pick up after the divorce is over.Plan ahead and nip any chance of damage to your credit in the bud, before it gets serious. Understanding Your Accounts There are two main types of accounts. These are called individual and joint and we will address them in detail in the course of this article. One person owns an individual account and, in order to have the account, that person's income, assets and credit file are used as a decider of whether the person is eligible. The lending institution does not factor the possibility of a partner into the person's financial obligations or assets when deciding to give an applicant an individual credit account. What this essentially means is that the person who owns the account is responsible for the payment of [url=http://www.thehygienerevolution.com/barbourparis.php]barbour paris[/url] the account, not a second party. This individual account [url=http://www.rtnagel.com/airjordan.php]jordan pas cher[/url] will be noted in your credit history and never in your partners if they are not the holder of the individual account. Always research the situation because this is where things can get tricky. If you live in a community property state, all debts, regardless of their type, are included as joint responsibility while two people are married. This means that if you are married and your partner has an individual account on which a large debt is owed, even though you are not responsible for the debt, it becomes your responsibility anyway. Even worse, this debt will be included in your credit report, which can be damaging if your partner doesn't pay it. An individual account can have its good points as well as bad. If you don't work or have a very [url=http://www.mquin.com/gzparis.php]giuseppe zanotti pas cher[/url] low income, it can be difficult to get credit because your income won't support it. Some times, in this situation, the only way to get credit is to be included or include your partner on the account or start a joint account together. Individual accounts and authorized users If you have already got an individual account, it is possible to add an authorized user. An authorized [url=http://www.jordanpascherofficiele.com]air jordan[/url] user is someone that has access to your account at his or her convenience. But keep in mind that if you include another person in your individual account, you are still the only person who is responsible for the account. This means that any debts that are owed are the account holder's responsibility, not the authorized user that has been included. Joint Accounts If married couples apply for credit together, then they are jointly responsible for any debt that is incurred on the account. While things are going well in a relationship, this form of credit account can be ideal. The chances of getting credit are more likely because both parties can offer assets and income to the deal. [url=http://www.thehygienerevolution.com/barbourparis.php]barbour[/url] The problem with joint accounts is that when a couple decide to divorce, it is possible that your partner may run up a huge bill, or stop paying their share of the payments that you both are responsible for. If payments on the account aren't made, then this could ruin your credit. How to protect yourself With an individual account that has an authorized user, the holder of the account should immediately request that the authorized user [url=http://lungushijie.com/forum.php?mod=viewthread&tid=189476]moncler outlet The History of Rochester Minnesota[/url] be removed from the [url=http://www.mxitcms.com/tiffany/]tiffany[/url] account and that their card be revoked. Because you are the primary cardholder, you are completely within your rights to do this. If you have a joint account you should request that the account be closed immediately before any damage can be done. 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If this happens, it is possible that the lending institution may deny credit to one or both of the account holders if their income is insufficient or their credit report is blemished. Prevention, the best cure If divorce is looming [url=http://www.mxitcms.com/abercrombie/]abercrombie milano[/url] for a couple, the best thing to remember is that prevention is the best cure. By closing accounts or removing authorized users, it gives you a better chance at keeping your credit intact and on track. If you can talk to your partner, then try to resolve credit issues and make changes to [url=http://www.louboumaterialistanyc.com]louboutin pas cher[/url] your accounts. Whether or not you can talk to your partner, you should make fair and reasonable plans that [url=http://www.qzsdxx.cn/wygkcn_GuestBook.asp]abercrombi[/url] keep both yours and your partner's best interest at heart. 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