March 15, 2008

Risk Factor For Divorce: A Low Credit Score

One of the monumental tasks I had to face after my financially devastating divorce was repairing and improving my credit score. Not that it was a number any one would have been proud of before the divorce, but it did manage to occasionally qualify us for things we definitely couldn0t live without, like a 720 plasma television at 29% interest and a new hunting dog.
When you apply for credit and you are sitting there with your fingers crossed, hoping for a positive outcome, your credit score is not where it needs to be. I0m sure most folks probably realize this. What they may not be aware of however, is a low credit score is a huge risk factor for divorce.
In fact, it0s probably one of the more reliable predictors of divorce available and one that I use regularly in my family counseling practice.
Most are taken aback when I ask them for their credit score and thank it has something to do with their ability to pay for my services. When I explain to them that it is a consideration I must make in evaluating and developing an effective strategy to try and save their marriage, most just sit there […]

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[…] File Bankruptcy Now wrote an interesting post today onHere’s a quick excerpt One of the monumental tasks I had to face after my financially devastating divorce was repairing and improving my credit score. Not that it was a number any one would have been proud of before the divorce, but it did manage to occasionally qualify us for things we definitely couldn0t live without, like a 720 plasma television at 29% interest and a new hunting dog. When you apply for credit and you are sitting there with your fingers crossed, hoping for a positive outcome, your credit score is […]

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