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Novi MI divorce attorneyGetting a divorce can be financially costly. With court costs, filing fees and attorney’s fees, the expenses can add up quickly. These are in addition to any other financial issues you may be facing as a result of the divorce, like the monetary impact of going from two incomes to one and selling your shared home. 

Divorce can put a financial strain on even the most affluent couples, and it is not uncommon for people to come out of a divorce with debt or damaged credit. Having good credit is key for obtaining loans for things such as homes or cars, so having a good credit score is pretty important after you are divorced. 

Here are a few tips to help you rebuild your credit after your divorce:

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Farmington Hills divorce lawyer, Michigan divorce, business and divorce, parenting time agreements, estate planning and divorceFirst marriages tend to be colored by the innocent blush of first love and all the fun of planning a big wedding and choosing cakes, dresses, dinner menus, and flowers. Second marriages, on the other hand, are often shaded with more doubts and concerns, particularly on the financial front. Consider the following issues that second-marriage partners should discuss, sooner rather than later.

Obligations Related to Prior Marriages

It is not uncommon for one or both partners in a second-marriage situation to have debts, child support, and/or spousal support obligations from a prior marriage. Remarriage may also be a reason to revisit and possibly modify modify support obligations and parenting time agreements, particularly if the remarriage also involves a change of residence and/or job.

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