How Can My Credit Be Affected by a Divorce in Oklahoma?Putnam Law Office
You might be wondering how a divorce in Oklahoma may affect your credit score and credit card debt. These are two important and reasonable things to be concerned about because they can both affect your financial future. Whether you have concerns about your credit score or how credit card debt will be divided during the divorce, knowing what your legal options are is vital for safeguarding your finances. To learn more, consider talking with an Oklahoma Family Lawyer for professional advice.
Protecting Your Credit During an Oklahoma Divorce
Protecting your credit in Oklahoma during a divorce can be difficult without the right information. For one, many people find themselves dealing with debt after a divorce that they did not even know they had. This is because debt can be hidden when your spouse opens an account in your name behind your back.
A lawyer can help uncover any hidden debt your spouse might have listed in your name to avoid potential surprises during or after the divorce. You can find out further information by ordering a credit report. Whatever you do, do not accept any debt in your spouse’s name when you are presented with a petition. Leave shared credit accounts to the court and your lawyer to sort out.
If you have concerns about your spouse reckless abusing one of your credit cards, then seek out a new credit card and tell your creditor to have no more charges on your old credit card. If you have any questions about any of this, do not hesitate to seek guidance from an experienced family lawyer in Oklahoma. Divorce financial concerns in Oklahoma are a normal part of this process.
How Credit Debt is Divided in Oklahoma Divorces
The division of credit card debt in Oklahoma can be a tedious process depending on the context of the situation. Credit card debt can be settled during negotiation with your spouse, negotiations between your lawyers, or during mediation. A divorce trial is a last resort and involves a judge who will look at both sides objectively to determine what a fair division of debt will be.
Since Oklahoma is not a community property state, your debts will not be summed up as one and divided in half. Instead, the court will assign the debts under your name to you and the debts under your spouse’s name to your spouse. Shared credit card debt is what will be divided, but if you want to take control ahead of time, you can sit down with your spouse decide together whether to remove one of you from any shared accounts.
Do not panic if your spouse refuses to pay the shared debts they owe. You could potentially sue them if they do not pay the debts in time.
Family Lawyer in Oklahoma
Taking control of your credit card debt during a divorce can be tricky. Consider hiring an experienced Oklahoma Divorce Lawyer if you and your spouse have not been able to agree on how your shared accounts should be split. Call the Putnam Law Office today at (405)-849-9149 for a consultation. Mr. Putnam is an Oklahoma City, OK attorney who is dedicated to his clients.