Reported about 10 hours ago
Divorce can leave individuals facing significant financial challenges, as managing and dividing debt becomes a priority. The article explains the division of debt, highlighting differences between community property and common law states, and outlines steps to overcome post-divorce debt. Key strategies include closing joint accounts, reviewing credit reports, negotiating with creditors, creating a new budget, and considering debt consolidation or refinancing. Seeking professional guidance can also aid in developing a solid repayment strategy, ultimately leading to financial stability.
Source: YAHOO