How to Separate Credit Scores After a Divorce

Each individual has his own private credit record. When you get married, your credit report is not merged with that of your spouse. Most couples do, however, accrue joint debts over the course of their marriage that will appear on both of their credit reports. It is vital that joint debts be separated following a divorce as each individual's financial behavior can affect the credit score of the other spouse. In this way, credit scores and financial responsibilities can be truly disassociated following a divorce.

Instructions

1

Pull a copy of your credit report, and ask your ex-spouse to also pull a copy of her credit record. Review the reports together, and identify all of the debts you share that appear on both reports.

2

Sell as many joint assets as possible (See References 1). By selling assets that are in both of your names such as a home or vehicle, you and your ex-spouse can absolve your financial obligations to the debts and prevent the accounts from updating in your credit files. As long as an asset appears in both names, both of you are legally responsible for the debt (See References 2).

3

Refinance any items that you either cannot sell or are not willing to part with, into the name of the individual who has been designated by the court to make payments on the item. This will transfer sole responsibility for the payments into the name of the individual who chooses to keep the debt, and the account will cease to update on the remaining spouse's credit record.

4

Close any joint credit card accounts that you share with your spouse. It is best to pay off the balance immediately, but if this is not possible, you have the option to continue making payments. Closing the account, however, will prevent either of you from accruing additional debts that you will both be held responsible for (See References 2).

5

Request novation for any joint debts that cannot be cleared by selling, refinancing or closing the accounts. A novation occurs when a lender or creditor replaces your current contract with a new one. You can use a novation to request that either your name or that of your ex-spouse be removed from the original agreement and the debt be transferred into one person's name only (See References 3).

6

Check your credit reports again to ensure that no joint debts you have forgotten about still remain on your credit file.