 If the stress of divorce is not enough, post divorce can turn out to be more stressful than the divorce itself.
At DivorceCredit.com, we understand that your credit is the last thing on your mind while entering into a divorce. More important topics such as the wellbeing of your child, your survival and the overall thought of divorce may seem like good reasons not to pay too much attention to your credit…… or at least you would think. Sign up today and start protecting yourself and your family by protecting your credit!
Who is protecting your financial future?
Statistics show that better than 50% of all marriages end in divorce. They also show that better than 90% of all divorce’s end with credit problems on both sides.
DivorceCredit.com can help you avoid or correct such situations if you’re contemplating divorce, in the process of divorce or if the divorce has been finalized.
DivorceCredit.com was founded by 2 people who understand the negative affects divorce has on credit for both men and women. Both individuals had gone through a divorce that resulted in their credit stopping them for moving on with their lives. We understand that Divorces, for the most part do not end amicably. After divorce, having good credit may be your only way to get back on your feet and moving forward in a positive direction but you shouldn’t wait until it’s a problem to address your credit issues. Your credit is your most valued asset after a divorce. When needed, having good credit can put a roof over you’re your head, turn on the lights and gas in your home, fill the gas tank in your car and put your child in school. How would you feel if your credit was bad because of your divorce and stopped you from moving on with your life? What would you do? Where would you turn?
Statistically speaking, most of the time both parties suffer financially and wind up with bad credit after a divorce. The reason for this is simple; you fight about who should pay what and while you’re going back and forth, nothing gets paid. A Divorce Decree in the eyes of some Creditors is worth no more than the paper it’s printed on. Even though the Divorce Decree clearly states that one of you is solely responsible to pay the bill, that doesn’t mean the Creditor will not come after the other if one doesn’t make the payment.
Your credit and credit scores are used to determine if you’ll qualify most of the things you will need after a divorce. Do you know what’s on your credit report? Do you know your 3 credit scores? The difference between a 619 credit score and 620 credit score can be the difference of paying $250 per month for a new car and paying $325 per month for the very same car. Can you use an extra $75 per month? That’s only 1 bill!
Think about how credit affects all the responsibilities you will have for the years ahead.
Auto Interest Rate & Payment
Your FICO scores play a vital role when trying to obtain an auto loan. Not only will your FICO scores determine whether or not you qualify but will also determine what rate and monthly payment you qualify for. Did you know that Companies such as Honda and Nissan as well as others have 2 Banks that finance their clients? Their primary financing company will only finance consumers that have high FICO scores. Their secondary financing company will finance the consumers that currently have low to fair credit rating. This process will determine the difference between obtaining your auto loan, paying a lower monthly payment or a higher monthly payment. Is it safe to say that this process will determine whether or not you accept the auto loan even if you qualify? Did you know that this process can determine the difference of whether you pay $250 or $400 per month for your auto loan? Why is it that most consumers when purchasing or leasing an automobile make it clear that this is the car they want and this is what they want to pay? Why is it that interest rates on auto loans are very rarely spoken about? Here’s something you may want to know, you are also paying interest on an auto loan the same way you would as if you were financing a home. Your interest rate and payment will be determined based off of your current credit status.
Can you afford not to have a car because of your credit?
Do you know what factors determine the payment you receive?
Are you paying too much for your lease or your purchase of your current automobile?
Did you know that you can make a small investment in getting your credit repaired and have it save you money for the entire term of your lease or purchase?
The simple answer:
A small investment now will protect you against spending thousands of dollars over the course of your lease or finance charges.
| $20,000 car paid over 5 years |
| Credit Status |
Rate |
Payment |
Cost of bad credit |
| Perfect |
10% |
$424.94 |
$0.00 |
| Mildly Damaged |
14% |
$465.37 |
$4,722.54 |
| Damaged |
20% |
$529.88 |
$8,593.30 |
| Severely Damaged |
25%+ oftentimes relegated to a buy here, pay here car lot |
Auto insurance policy and payment
Does Bad Credit Make Bad Drivers?
Ever wonder how a lender decides whether to grant you credit? For years, creditors have been using credit scoring systems to determine if you’d be a good risk for credit cards, auto loans, and mortgages. These days, many more types of businesses — including insurance companies— are using credit scores to decide whether to approve you for a loan or service and on what terms. Auto insurance companies are among the businesses that are using credit scores to help decide if you’d be a good risk for insurance. A higher credit score means you are likely less of a risk, and in turn, means you will be more likely to get credit or insurance — or pay less for it.
Credit Cards
Credit card companies are not only using FICO SCORES for qualification purposes but are also being used to determine your credit card interest rate (APR) you will receive when you use the credit card to make a purchase.
I’m sure you know that your current credit status determines whether or not you get approved for a credit card.
Did you know that your current credit status determines the APR (Your Interest Rate) you receive when applying for a credit card?
Did you know that you could be getting overcharged for your monthly credit card charges?
Did you know that for a small investment, you can enroll into a Consumer Credit Protection Program with DivorceCredit.com and save yourself thousands of dollars per month with a lower APR?
The simple answer:
Act now! Invest in yourself by enrolling with DivorceCredit.com Institute so you never have to worry about paying too much ever again!
Do you currently rent or own?
Either way, good credit is your key to the front door!
Renting?
If you were a homeowner that had a house or an apartment to rent, wouldn’t you want to know whether or not the individuals applying to rent the property pay their bills on time or at all for that matter? This is where your negative / positive credit history plays a vital role. Not everyone can afford to purchase a home and need to rent. Your current credit history can determine whether or not you can put a roof over your head!
Applying for a Mortgage Loan?
This is where your FICO scores, negative / positive credit and current credit status can affect you the most!
All Mortgage Banks use your FICO scores to determine whether or not you qualify for a mortgage loan regardless of your down payment amount. All Mortgage Banks use your FICO score to determine your Loan to Value (LTV). Your LTV is calculated by dividing your down payment by your purchase price IE: $100,000 down payment divided into a $500,000 purchase price will determine a 20% down payment. That means you will have an LTV that will equal 80%. The higher the LTV, the higher your FICO score must be.
When applying for a mortgage loan, your FICO scores will determine the interest rate & monthly payment you will receive. The interest rate & payment will change for the better as you reach 580, 620, 680, 700 and 720. The difference between each tier can be the difference between you paying 1% to 2.5% lower on your mortgage loan each month.
Utilities
All Utility Companies will use your credit scores to determine if your account will require a deposit. This can be costly for when you buy your new home or rent a new apartment. You will need to activate your gas, electric, telephone and cable/satellite services. Having a better credit score can be the difference between being qualified to turn on your utilities at no cost or as much as a $1,000 deposit for each. I think you’ll agree that having better credit scores can be vital when moving into your home.
Homeowners Insurance
Insurance companies will use your credit scores to determine your insurance policy on your new home. The better your credit scores, the lower you Homeowners Insurance Policy will be. Are you starting to get the picture on the importance of keeping your credit in good standing?
Cellular Phones
In today’s world, having a cellular phone is no longer a luxury. It has become a necessity. Cellular companies are turning away more and more customers due to bad credit. You may be thinking, "I have a cell phone. I won't need another one." Well, that may be true but what are you going to do if you’re wrong?
Gas Credit Card
With gas prices sky rocketing all over the nation, discounts are being offered to customers that have gas credit cards. The savings can be enormous. All you need is good credit and you can start saving money every time you fill up your tank. If your credit is bad, you will not qualify for the savings. Yet another aspect of your financial life that is affected by your credit.
Employment
Most major companies are using FICO scores when considering an application for employment. This is done for many reasons. You can be over qualified for an employment opportunity but get turned down because of your current credit status.
Ask yourself a few questions and answer them honestly:
What if I were to lose my job tomorrow?
What if I needed a job right away in order to pay my bills and survive?
What if an employer ran my credit to decide whether or not to hire me?
Could I afford to not gain employment because of my credit status?
How would I pay my bills?
How would I survive?
How would I support myself and my family?
Who would’ve thought that I would’ve lost my job?
Do I want to be a victim of "who would’ve thought"?
The simple answer:
I should invest in myself and my family and be prepared for the worst!
 Your Children’s Needs
Your children are your pride and joy. We all know that the one’s who suffer the most during a divorce is almost always the children. We’re here to ensure your children do not suffer for years after your divorce. All of the categories listed above can potentially hurt not only yourself but your children’s future as well. If for no other reason in the world, you should address your credit for the well-being of your child’s future.
Don’t let your divorce further impact your child’s life in a negative way!
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