Dallas Fashion Consultant asks which is worse – your closet or your credit

Dallas Fashion Consultant asks which is worse – your closet or your credit?
Julie Bartlett, of Colour IQ, knows how to clean up a wardrobe and knows it’s also difficult to clean up a credit rating, especially during or after a divorce.  We thought some helpful tips from Jacklyn Shapiro of Shapiro & Co LLC, might make a painful situation a little less chaotic.  Jacklyn has given us permission to re-post these tips from her newsletter:
Divorce and Credit
“Credit Card Debt: Who’s Responsible?” Not knowing who’s responsible can be devastating to your future!
If you are thinking about a divorce, in the middle of one or have recently finalized your divorce then the following information may help you better understand how your married debt can effect your credit and what you can do to protect yourself. Meet John and Glenda who were married for 8 years. When they divorced, like most couples they had several credit card accounts that they had opened together.
Both were hard working, but during the recession had lost their jobs to lay offs. After the divorce Glenda started rebuilding a life with their children and planned on buying a home. She had found a good job and had almost saved up enough money for her down payment when she got the first call.  It was a collection company trying to collect on a credit card she and John had opened together 5 years before. Glenda politely explained that the divorce decree stated that John was responsible for that account and that they were mistaken. This is an unfortunate situation for many good people just trying to start over. If you find yourself in this situation go to your credit card company and ask them to convert the account to an individual account, close the account and pay it off prior to divorce, transfer the balance to a new card or if the creditor will allow it ask for the account to be converted to an interest only account if your budget will not allow you to make a full payment.
If you have questions or would like more information contact credit repair specialist Jacklyn at 214-662-0072. Her weekly tips help us with fabulous credit!

As your Dallas Fashion Consultant, it is my mission to help my clients always look fabulous without being a slave to the whimsical ways of fashion trends.  I am passionately committed to making sure my clients always look their very best in order to help them achieve their personal and business goals.  If you have any questions or are interested in a personal consultation, call me at 214-223-2200.

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