Debt Consolidation Credit Counseling In Phoenix

Credit scores are important, more than ever. When you separate or divorce, special care needs to be taken to protect your scores. Duriing these times of chane , it might be wise to shop around.

How you deal with the related credit issues pertaining to a marital separation and divorce is important for both your short and long term financial recovery. Many credit restoration companies thrive when the divorce rates rise. In challengiong financial times, debt management can take on a whole new meaning.

There are a few basic steps you can take to help lessen the financial pain.

Pay up joint debts and cancel joint credit cards after you get a card in your name.

. Separate joint debt into manageable chunks.

Consider taking a financial or accounting class.

Try to agree on one appraiser rather than shopping for a "buyers" appraiser or a "seller's" appraiser.

For some reason, it often sees like car loan agents have the least sympathy when it comes to working out delinquent payments. Car companies know that you need wheels and they therefore can lean on you when necessary. Stay on top of your car loan payments.

Remeber that tough economic times are generally followed by long term periods of prosperity. Don't give up hope. Hopefully, you have followed the old parental advice, to "save for a rainy day."

When divorce cripples the family budget, not only does the stress level rise, but so too, does the likelihood of filing for bankruptcy. Despite new laws enacted in 2005 that tightened the requirements for bankruptcy, many people still see it as an easy way out of crushing financial debt. Unfortunately, some spouses also believe bankruptcy will allow them to escape their spousal or child support obligations during or after the divorce; wrong.

Quality legal advice and guidence is a must if bankruptcy is a consideration.