Separate your credit accounts if you are divorcing
What if both partners have decent credit scores when they decide to part ways later in life? “Gray divorce” is becoming more common, according to personal finance expert Liz Weston, so in such cases it’s essential to split credit accounts when you split with a spouse.
One of Weston’s readers checked his credit score and found that his soon-to-be-ex-wife had stopped paying on a joint account. He immediately paid it off, but the damage to his credit score was done.
“It’s so important to separate financial accounts when you’re separating from a spouse,” Weston says.