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Based on the title of this blog post, you are probably asking yourself “Wow she was married before?”. And yes I was. I was married to the father of my boys for almost 2 years. I married at a very young age which means I had to grow up really fast. When we got divorced, we both made an agreement to split our debt. He was responsible for some and I was going to be responsible for the other. But in Wisconsin, when you’re married you can’t open a credit or apply for a loan without your partner. They have to be there. This means no matter what we agreed on in our divorce settlement, we are both still responsible for our debt.
I was still going to be affected if he didn’t pay his half of our debts. I really wanted to get my life together especially for my two boys so I did. I know how hard it can be as a single mom to have to worry about paying rent, take care of the kids on your own, pay your normal bills but also have to worry about bill collectors.
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How To Fix Your Credit After Divorce
I know how hard it can be as a single mom to have to worry about paying rent/mortgage, take care of the kids on your own, pay your normal bills but also have to worry about bill collectors.
Be sure that you write down all of the accounts you & your ex have opened together. Find the information to the accounts, write down the balance. You can also check your credit report and see the information on there as well. This will help you get a bigger picture of what you owe.
Create a Budget
This is so important. What I did is create a spreadsheet with my income, bills & monthly expenses that way I am able to see how much of the debt I am able to pay off monthly.
Pay The Smallest Debt
My dad gave me this tip. Paying off the smallest amount of debt will actually show the credit bureau that you are paying off your debt. For example, I had a credit card that was around $500, what I did was divide the amount of debt I owed by how fast I wanted to pay it off. I did 5 months! So I would be paying $100/month to that collector. I called them and set up that payment plan with them.
If you are still struggling and want professional help, I would reach out to CreditRepair.com. They are one of the top credit repair companies in the United States. They have served over 500,000 people in their journeys to financial freedom. When you sign up for CreditRepair.com you will have access to your own dashboard to keep track of your score as well as get alerts to help you monitor changes. They also have a resource library. You can spend time learning more about credit scores, how they work and how to handle certain situations as they come up.