| Are you recently divorced or divorced for a while? | | | | using an asset or your savings as collateral. The same |
| Rebuilding or continuing your credit after divorce may | | | | applies here, make your payments on time every |
| not seem like a priority right now, especially if you're still | | | | month and do not carry any balances in your rebuilding |
| healing from your marriage ending. If you eventually | | | | phase. You will begin to build a consistent credit history, |
| want to obtain credit cards in your name, finance a | | | | which will increase your Credit Score and make it |
| vehicle or home, and even begin a new job, you need | | | | easier to be approved for unsecured credit in the |
| to make sure that you have a good CREDIT SCORE. | | | | future. |
| Why? Your Credit Score will affect your ability to get | | | | Step 3. |
| a loan, rent a house, or get hired for that job. You have | | | | Make Your Payments On Time |
| to have the highest Credit Score possible for where | | | | Your Great Credit Score is built on longevity of timely |
| you are today. | | | | payments so, the longer you pay your bills on time, the |
| Following are my top Pre and Post Divorce Credit | | | | higher your score will be. Money can be scarce after |
| Repair Score Tips:o Cancel all joint credit card | | | | divorce or at any time, and sometimes you will have to |
| accounts from your marriage. This will safeguard your | | | | juggle your bill payments. |
| credit record in case your ex-husband decides to use | | | | Following are my personal recommendations for the |
| them. If the debts are in both of your names, it will | | | | order in which to pay your bills: |
| remain a liability to you until they're paid off.o All | | | | 1. Mortgage or Rent payments |
| accounts you had while using your husband's surname | | | | This is one of the heaviest weighted items in the |
| should be changed to the name you are using now. | | | | scoring algorithm. So, make sure you make these |
| This will help to rebuild your Credit Score.o Begin to | | | | payments on time or your Credit Score will suffer |
| start a personal relationship with a bank and banker of | | | | greatly. |
| your choice that you did not do business with while | | | | 2. Car, Motorcycle, Boat etc. Loans |
| married. Open a new account or maybe a small CD.o | | | | If you depend on your car for various activities, keep |
| Quickly establish accounts in your name, so you can | | | | these payments current. If not, you run the risk of it |
| begin to rebuild your credit. | | | | being repossessed. |
| These are the exact ones I utilize when I coach my | | | | 3. Credit Cards |
| private Credit Score Clients. | | | | You want to pay these in full or make the minimum |
| Step 1. | | | | payment by the due date. Credit Card accounts are |
| What's Your Credit Score Today? | | | | now (in allot of cases) being reported after they are 5 |
| Order a copy of your credit reports. Make sure to get | | | | days late. This will also keep your interest rates from |
| a copy from the top 3 Credit Bureau Providers as | | | | rising and help you avoid late fees. |
| information varies greatly. Make sure all the information | | | | 4. Utility Bills |
| is correct on YOU and that the division of debts is | | | | You will want to pay the minimum required to make |
| accurately reflected. | | | | sure your utility services continue. Reconsider what |
| If there are errors on your report, you may want to | | | | utilities you have. If you need to cutback, cable and |
| contact a reputable Credit Repair Firm to assist you | | | | land line phones are always an option to cut out. |
| with this because it can be a challenge at times. If you | | | | 5. Health and Auto Insurance Premiums |
| want to do it yourself, contact all the creditors and the | | | | If you have an auto many states require auto |
| bureaus and supply them with the proof they request. | | | | insurance, this is a bill you need to make sure gets paid. |
| After all the correcting and updating is completed, | | | | With Health Insurance, you might want to raise your |
| order your report again in 3 months to ensure that | | | | deductible to lower your monthly premium. |
| everything is being reported correctly and nothing has | | | | 6. Secured Debts |
| re-appeared. (It happens frequently) | | | | Beware of these. If they don't get paid, the creditor |
| Step 2. | | | | can repossess the asset that was used to secure the |
| Do You have your own Credit Score? If not, Establish | | | | loan. If you absolutely can't make the payment, you |
| Credit In Your Own Name. | | | | need to see if you can give the asset to the creditor |
| If you do great! Continue to build a good Credit Score. | | | | without it hurting your credit. |
| You can follow my tips from below. | | | | 7. Unsecured Debts |
| If you don't have a Credit Score established in your | | | | These include all other debts. Like, to your attorney, |
| own name, begin rebuilding today. Now is the time to | | | | doctor, hospital, and any other service provider or |
| get started. | | | | professionals. Most often, as long as you pay a small |
| You might not qualify for a major credit card right now, | | | | amount monthly, these accounts will be fine. If you |
| that's ok. You might want to consider applying for a | | | | absolutely can't make that months payment, contact |
| store credit card or a gas credit card. If you're | | | | them and usually they will work something out with |
| approved, charge a small amount monthly and pay it in | | | | you. |
| full on time. Now you are beginning to build a great | | | | Step 4. |
| Credit Score. | | | | Pay Down Your Debts |
| Another way to start building an outstanding Credit | | | | A high debt ratio hurts your credit score. The most |
| Score in your own name is by applying for a secured | | | | effective way to improve your score is by not |
| credit card or taking out a small loan at a bank, and | | | | carrying a balance or paying down your debts. |