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One aspect of divorce that people do not think about enough

On Behalf of | Dec 14, 2023 | Divorce

Divorce can lead to financial challenges, some of which are easy to underestimate. While many individuals recognize the standard financial implications such as division of assets and potential spousal support, they tend to overlook one aspect.

That is the potential impact of divorce on credit scores.

Credit scores

Divorce can have a significant impact on the credit scores of both parties. During marriage, couples often share joint financial responsibilities, such as mortgages, loans and credit cards. When a divorce cuts these financial ties, it is important to disentangle shared debts. Failing to do so can lead to unforeseen consequences for both individuals.

Shared debts

Shared debts have the potential to haunt individuals post-divorce. Even if a divorce settlement assigns responsibility for specific debts to one party, creditors do not have to follow this agreement. If the responsible party fails to meet their financial obligations, the creditor can turn to the other ex-spouse. This can result in late payments or defaults, adversely affecting credit scores for years to come.


The average credit score in Ohio is 695. To mitigate the risk of credit score damage after a split, divorcing couples must proactively address shared debts. This involves closing joint accounts, refinancing loans in one party’s name or settling debts before finalizing the divorce. Regularly monitoring credit reports is also important to catch any discrepancies or outstanding debts that the divorce proceedings overlooked.

Future financial independence

A strong credit score can offer immediate financial stability and long-term independence. A lower credit score can impact an individual’s ability to secure loans, mortgages or even employment opportunities.

Recognizing the potential pitfalls and taking proactive steps to protect creditworthiness can empower individuals to navigate post-divorce life with financial resilience.