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Managing Credit During and After Divorce
Divorce is messy. Your clients will undoubtedly be upset, stressed, and fatigued by the process. Untwining two lives isn't easy, and as with most major life changes, suddenly shifting paths often means dealing with a few miles of bumpy roads.
If your clients aren't careful to attend to their finances, they could wind up in a major credit hole with no easy way out. Good luck financing a home, car, or business investment with a tarnished credit history ' your client could face either exorbitant interest rates or a lack of willing lenders.
As a credit management adviser, I've seen too many clients destroy their credit scores by missing payments, whether out of spite, neglect, or ignorance. Advise your clients to follow these steps during and after a divorce to keep them on the path to upstanding credit.
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