What is the most common financial mistake made during divorce?
One of the most common mistakes I see in a divorce are people not knowing that their name is on a credit card or thinking that because they have an agreement with the spouse that the spouse will pay that credit card or that liability, that somehow they will not be liable for it to the creditor if your spouse does not pay it. When you enter into a contract with a credit card company or with a bank for a loan, you are promising that you will pay that bill. If you don’t pay it, you will still be liable to them and it will negatively affect your credit if not paid. So irrespective of what your divorce agreement or judgment specifies, if your spouse does not pay the bill as agreed or ordered, you must pay it to save your credit score. You do have legal options available post divorce to attempt to get reimbursed by your former spouse. Call the law firm of All Family Law Group, P.A. at 813-672-1900 or by email to discuss your situation and solutions available at a free consultation.