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How to Find Out If You Are Affected By Equifax Hack

Have you been affected by the Equifax hack?

On Thursday, Equifax, one of the three major credit reporting agencies announced that hackers had obtained access to company data potentially impacting approximately 143 million U.S. consumers. After the companies recent investigation, Equifax stated that the unauthorized access occurred from mid-May through July 2017. The cybersecurity incident was discovered on July 29, 2017, in which they immediately took measures to stop the intrusion by engaging with a leading independent cybersecurity firm. The company also reported the incident to law enforcement and will continue to work with the authorities until the investigation completes in the coming weeks.

The information accessed includes names, Social Security numbers, birth dates, addresses and in some instances, drivers license numbers. Equifax also stated credit card numbers of approximately 209,000 U.S. consumers, and personal identifying information for 182,000 consumers involved with credit disputes.

How to tell if you been affected by the hack?

Equifax will not be contacting everyone that may have been affected, but the company will be sending out direct mail notices to consumers whose credit card numbers or dispute information were accessed. Richard F. Smith, Chairman and Chief Executive Officer for Equifax, stated: “We also are focused on consumer protection and have developed a comprehensive portfolio of services to support all U.S. consumers, regardless of whether they were impacted by this incident.” The company has established a dedicated website, www.equifaxsecurity2017.com, to help customers determine if the hack potentially affected them. The site will be available as early as Monday, September 11, and will also offer U.S. consumers to sign up for credit file monitoring and identity theft protection, and the offer will last for one year. TrustedId Premier will handle the monitoring and protection and will include 3-Bureau credit monitoring of Equifax, Experian and Transunion; the ability to lock and unlock Equifax credit reports; identity theft insurance; and internet scanning for Social Security numbers. However, the credit monitoring and identity protection may require you to accept TrusteId’s terms and conditions, including it’s “Attribution” Section.

Equifax has also set up a dedicated call center, 1-866-447-7559, to assist customers seven days a week from 7 a.m. – 1 a.m. Eastern time.

 

Protecting your Identity Theft

Identity theft continues to increase each year, in 2016 victims of identity theft were robbed of $16,000.00. An important factor in protecting yourself from identity theft is regularly checking your credit report and monitoring your account statements. As a consumer, you are allowed a free copy of your credit report once a year from all three credit reporting agencies, Equifax, Experian, and Transunion. You can request your free copy of your credit reports online at www.annualcreditreport.com. If you have noticed unauthorized activity on your credit report or accounts, immediately report the activity to your bank or credit card companies, and then contact law enforcement.

For Additional information on how to protect yourself against identity theft, you may access The Federal Trade Commission’s website.

Ease and E-Commerce│The Pros & Cons of Online Spending

How Would You Like To Communicate?

We took a recent survey on our Facebook page asking how users would like to be contacted; via phone call or text/email conversation. The results were not surprising! More than 90% of users voted text and emails. There seems to be a wave of change happening in the way our every day consumer takes in information.

Are you watching the news or your news feed for most recent events? Are your daily interactions on a device or a face to face debate?

If you are with the 90% of consumers that would rather communicate with no real human interaction, does this also apply to the way you purchase goods and services now too?

E-Commerce and E-Tail (Not Retail)

Apparently, it does!

The trend continues when you look at companies that are now converting their grocery shopping to an online platform. Their consumers are taking a side that “we are too busy” to go in the store anymore or that they no longer want to deal with lines, people and the inconvenience it adds to their day.
So what did these companies do? They gave consumers what they wanted; convenience.
As a whole, business owners are recognizing they need to shift their focus (and their marketing) to the digital platforms.

The Pros Of The “New Consumer”

Are there some products you are okay with buying online as opposed to others? Science says that for some people, purchasing an unfamiliar product they feel is more comfortable to buy in person. Have you gone to the store to try a new product, only to return it again a few days later? This proves the point that we will continue to buy familiar products over and over again. For those that do quite a bit of shopping online, they most likely stick to the same brands and services they have come to know and trust because they know the likelihood of having to return it is slim. That among the convenience of buying online makes the e-commerce option seem more appealing.

For Businesses, the pros are as follows:

  • Customer Loyalty
  • Brand Recognition
  • Repeat Customers
  • Customer Reviews/Satisfaction

Many of these pros play a very important role in the customer experience! For an online consumer, there is no long lines, and annoying check out attendant, just a basket of items to add and one click to check out. If the user experience is quick, easy and a great product, you better believe they will share it with all their friends (Facebook “friends” too).

The Cons on “Over Consuming”

While there are many reasons why the customer experience and the instant gratification with online shopping seems great, there are a few cons to the way we are making these transactions. While shopping in a store, there are several emotions that play into the purchase or “put back” of an item. Does this seem practical? Do I need it? What is my budget like?

You may feel you are getting great deals or that “time is money” but you may be overspending when it comes down to it. The same way that these businesses have marketed to you to show you that their way is better, are the same tactics they use to market more products and a need for more “stuff” that they have.

 

free credit repair consultation

You may find that you are spending more money due to:

  • High credit card balances (trying to make more payments to pay them off)
  • Cost of shipping products
  • New Products daily in your email/phone that you buy because you “want” them

There is an overwhelming amount of consumers in debt. The fact is, we sometimes we consume to many products and services without even recognizing it. Have you been there before?

Your Finances

If you are finding that you are falling behind on payments, have credit cards climbing in debt and have collection companies calling you daily, you may be in need of help. Credit Law Center is a law firm that specializes in credit repair. There are credit advisors ready to help you cut back and buckle down on your finances again. Whether you are thinking about filing for bankruptcy or are struggling to figure out the best option to pay a creditor back, they want speak with you so you can get back on track. Whether you want to talk via text, email or by phone, they can tailor to your needs.

The first step towards getting somewhere is to decide you’re not going to stay where you are. Take the next step to better credit and a better life.

 

Do you have questions about your credit report? If you would like to speak with one of our attorneys or credit advisors  and complete a free consultation please give us a call at 1-800-994-3070 we would be happy to help.

 

A Note From The Author: The opinions you read here come from our editorial team. Our content is accurate to the best of our knowledge when we initially post it.

Article by Breana Washington

law firm vs credit repair

 

Are you in debt? 5 Warning Signs- Credit Law Center

Do you hesitate to open your credit card statements each month, afraid of the debt you may be in? Are your credit cards allowing you to go further and further in debt? It is true paying cash gives a clearer picture of what we have and what we can spend. With credit cards being such a crucial part of building a credit history, it is important to remember you must still live within your means and not fall into this financial mess. Here are some signs you may already have a problem.

 

1.Are You Making the Minimum Payments

Making minimum payments to your credit card companies can be a sign you are in debt. Paying the minimum payments on even a minimal debt could mean you will be paying on it for years and years.

2.Large Minimum Monthly Payments.

If you add up all the minimum payments on all revolving debts,(credit cards, not home or auto loans), and the minimum payments of all debts equal 20% of your income or larger, you have too much debt. Exceeding 20% of your income risks you not being able to cover housing, food, or transportation.

3.Are Collectors Calling You?

Are Collectors or creditors calling threatening to garnish your wages or demanding payment? Not paying your credit obligations on time can be a sign you are in over your head. Even if you are just late on a bill, being organized and knowing what is due and when it is due can save you a late charge. Before you pay a debt collector, it is important that you know that this debt is, in fact, yours and you do owe it.

4.Robbing Peter to Pay Paul

If you are transferring money from one card to another or refinancing your house to pay off existing credit cards, this may be a sign that you are in over your head.

5.Being denied a loan

If you have been turned down for a loan or credit card, it is time to re-examine your situation. If high debt levels lead a lender to deny you the credit you probably have a debt problem. Anytime you are denied credit you are allowed a free credit report. According to the FTC, 79 percent of all credit reports contain errors, be sure to examine your credit report for errors.

These are just a few signs that may indicate you have a debt problem. It is important to stay engaged in your financial situation.

How to Find Out If You Are Affected By Equifax Hack – Credit Law Center

On Thursday, Equifax, one of the three major credit reporting agencies announced that hackers had obtained access to company data potentially impacting approximately 143 million U.S. consumers. After the companies recent investigation, Equifax stated that the unauthorized access occurred from mid-May through July 2017. The cybersecurity incident was discovered on July 29, 2017, in which they immediately took measures to stop the intrusion by engaging with a leading independent cybersecurity firm. The company also reported the incident to law enforcement and will continue to work with the authorities until the investigation completes in the coming weeks.

The information accessed includes names, Social Security numbers, birth dates, addresses and in some instances, drivers license numbers. Equifax also stated credit card numbers of approximately 209,000 U.S. consumers, and personal identifying information for 182,000 consumers involved with credit disputes.

Have you been affected by the hack?

Equifax will not be contacting everyone that may have been affected, but the company will be sending out direct mail notices to consumers whose credit card numbers or dispute information were accessed. Richard F. Smith, Chairman and Chief Executive Officer for Equifax, stated: “We also are focused on consumer protection and have developed a comprehensive portfolio of services to support all U.S. consumers, regardless of whether they were impacted by this incident.” The company has established a dedicated website, www.equifaxsecurity2017.com, to help customers determine if the hack potentially affected them. The site will be available as early as Monday, September 11, and will also offer U.S. consumers to sign up for credit file monitoring and identity theft protection, and the offer will last for one year. TrustedId Premier will handle the monitoring and protection and will include 3-Bureau credit monitoring of Equifax, Experian and Transunion; the ability to lock and unlock Equifax credit reports; identity theft insurance; and internet scanning for Social Security numbers. However, the credit monitoring and identity protection may require you to accept TrusteId’s terms and conditions, including it’s “Attribution” Section.

Equifax has also set up a dedicated call center, 1-866-447-7559, to assist customers seven days a week from 7 a.m. – 1 a.m. Eastern time.

 

Protecting your Identity Theft

Identity theft continues to increase each year, in 2016 victims of identity theft were robbed of $16,000.00. An important factor in protecting yourself from identity theft is regularly checking your credit report and monitoring your account statements. As a consumer, you are allowed a free copy of your credit report once a year from all three credit reporting agencies, Equifax, Experian, and Transunion. You can request your free copy of your credit reports online at www.annualcreditreport.com. If you have noticed unauthorized activity on your credit report or accounts, immediately report the activity to your bank or credit card companies, and then contact law enforcement.

For Additional information on how to protect yourself against identity theft, you may access The Federal Trade Commission’s website.

Need Credit Repair? We Fix Credit Reports! – Credit Law Center

Need Credit Repair?

If you recently pulled your credit report and you instantly feel ill from the low credit scores and outstanding collections. Now may be the perfect time to start thinking about credit repair. Having a low credit score can cost you hundreds of dollars on loans, interest rates on cars and even receiving a denial letter. High-interest rates and denials are the perfect reason to consider credit repair.

 

We Fix Credit Reports!

A single mistake on your credit report can cause a tremendous drop in your credit score. Did you know that 79% of all Americans have inaccuracy, miscalculations, and or negative item on their credit reports? Yes, I did say 79%! The good news is that there are rules and regulations that credit reporting agencies must follow, by law consumers are allowed to dispute inaccurate information that the credit reporting agencies are reporting. The Credit reporting agencies, Equifax, Experian, and Transunion, have 30 days to notify you of the status of your disputes and up to 45 days to complete their investigation.

 

If they delete the inaccurate information

If the CRA’s remove the mistake from your credit report, this is Awesome! Deleting an account or a negative item can immediately increase your credit score. The only time a credit score gets updated is at the time you request it. The credit report and score is calculated based on the information on your credit file at the time the request is made. For Example, if you request your credit score on a Monday and Tuesday critical information was removed, and you order your report again on Wednesday the derogatory information will show as if it was never on your report.

If They Verify

Here is the part of the process that sets Credit Law Center aside from any other credit repair companies. When a creditor or collector verifies the questionable information, most credit repair companies end the process here. At our law firm, this is the most significant part of our process; this is the part of the process where one of our attorneys send a debt validation demand. A debt validation demand is a legal document that contains 6-9 questions for the creditor or collector to answer. The creditor or collector typical responds in one of two ways:

  1. The creditors and collectors receive a letter from our law firm, and they are aware of the recent dispute. If the account or inaccurate information provided on the credit report cannot be verified, they will delete the account!
  2. They answer the 6-9 questions; this is the step where our paralegals step in and compare the debt validation demand letter to the response from the initial dispute. When comparing these two documents, we typically find discrepancies or incomplete information. Often these discrepancies are violations of the Fair Credit Reporting Act, or the Fair Debt Collection Act.

When our firm finds one of these violations, we use this information as leverage to request full deletion of the account.

 

If they update

When the information is updated, it means the collector or collection agency as reporting the information incomplete or inaccurate. This is not considered a FCRA violation because they updated the information, the only time a creditor or collector can violate the FCRA is when an account is disputed. This result is why proper documentation of the dispute process is so vital to the credit repair process.

What happens when the report is updated and verifiable?

Once all the appropriate steps in the credit repair dispute process have been completed, all the information on the credit report should be accurate and verifiable. The next step would be to negotiate a settlement for deletion with the creditor or collection agency. This allows you to pay the account as long as the creditor or collection agency is willing to delete the account information of your report.

Credit Law Center No. 1,578 on Inc. 5000 Fastest Growing Company List

Here at Credit Law Center, we believe in being a team of individuals who are all working for the higher cause and greater good of the company. Our focus and efforts have paid off, and we are honored to rank number 1,578 on the Inc. 5000 Fastest-Growing Private Companies in America. Over the last three years, Credit Law Center has had a 249% rise in revenue. The soaring growth has allowed us to expand our team, move into a new building to accommodate our needs in a way that will help us continue down the path of expansion and improve the buying power of so many clients.

 

Who is Credit Law Center?

In 2009 Credit Law Center was established, by a few guys with a vision and a passion for helping consumers improve their buying power, as well as holding the credit reporting agencies and debt collectors accountable. As CEO, Bo Thomas would say, “I’m a recovering mortgage Banker, and I enjoyed doing mortgages and had some pretty great success there. Every year I kept seeing more and more of the common sense of lending just keep getting distracted. It used to be based on how much money you made how you paid your bills, but it rolled itself into or manifested into now it is about what’s your credit score before you can make a decision.”  About 90 days into this new adventure Bo realized that for Credit Law Center to be successful and to do more than what an average consumer can do on their own, Credit Law Center needed an attorney needed an attorney to join forces. That is when he reached out to Attorney and friend Tom Addleman. Tom reviewed the information and immediately said, ” let’s go get these guys they are making mistakes!” Since that day in 2009 Credit Law Center has grown to a staff of about 75 employees, including five full-time attorneys on staff.

What Does Credit Law Center Do?

Our core Mission as the company is to help consumers improve their buying power, so whether you can or can’t get approved, but even if you are approved, but you want to improve your situation to where you can get a better rate or the best rate. Credit scores will continue to have a more relevant impact in all areas of consumers lives. Credit reports are required by law to be 100% verifiable and accurate we work to get the information corrected or deleted. When our staff finds errors or violations, our attorneys pursue them and fight for your rights.

Our growth has also allowed us to take on many new referral partners that are coming alongside us because they see the value of what we can do for our clients. We see and believe in the dreams of each of our customers as well as our employees, and we seek to communicate that in the work that we do each day. As one of the nations fastest growing companies, we have the motivation to run a smart, successful business that is well-known for our generosity and ability to change the lives of our clients.  Credit Law Center as a whole would like to extend a huge thank you to each dedicated individual that has played a part in our expansion and growth. Each and every one of you made it possible for us to receive this honor. We look forward to the years to come and the many lives we will help restore in the future.

Debt Collectors Are Required to Follow the Rules

 

Carrying outstanding debt is stressful enough, but when you add aggressive debt collectors to the equation, it can be a bit overwhelming. Have you ever sat back and wondered if what they are doing is legal? Debt collectors do have limits, and they are required by law to follow certain guidelines.

Debt collectors must comply with the Federal Debt Collection Practices Act, FDCPA; this act prohibits abusive, deceptive and unfair debt practices

 

Debt Collectors

The FDCPA defines a debt collector as a company or agency that is in the business of recovering outstanding money that is owed on a delinquent account. Debtors will hire debt collectors to collect money that owed to them, and in return give them a percentage of the portion that is collected.

 

Typical Debt Collector Violations

  1. Calling Before 8 AM
  2. Calling After 9 PM
  3. Using abusive or vulgar language
  4. Calling third parties, (debt collectors may contact your spouse)
  5. Communicate to anyone else that the collector is trying to collect
  6. Contacting you after you have submitted a written request to cease contact
  7. Continuously call you
  8. Use or threaten violence
  9. Threaten action they cannot take
  10. Failing to send a written statement validating the debt
  11. Continues to Collect before sending validation letter
  12. Contacting your employer if your employer prohibits it
  13. Debt collectors may often use false statements.
  14. Threatening to have you arrested or that you are being sued when no action has been taken
  15. Giving false information to the credit reporting agencies.
  16. Sending a letter that looks like an official court document if it isn’t
  17. Collecting interest, fees, or other charges on top of what you owe, unless it is in the contract
  18. Contacting by using a postcard.
  19. Repeatedly call you to harras you.

What to Do If You Believe A Debt Collector is in Violation of the FDCPA

If you feel a debt collector has violated the FDCPA you have the right to take action.
You may report any problems you have with a debt collector to your state Attorney Generals Office, the Federal Trade Commission, and the Consumer Financial Protection Bureau. You may also reach out to an attorney that practices law in these areas, you have the right to sue a collector within in one year from the date the law was violated. If you win, the judge can require the collector to pay you for any damages you can prove you suffered. The judge may also grant you up to $1000 even if you can’t prove that you suffered any damages.

If you feel you have been violated in the last year, Credit Law Center isn’t just a credit repair company. We have five attorneys on staff that handle situations like this every day. These laws are here for to help protect you.

Top 10 Causes of Debt – Credit Law Center

Debt is the amount of money borrowed by one party from another. Consumers typically borrow money from credit card companies or private loans for purchases that they may not be able to afford upfront. Debts are acquired from a car loan, credit card, personal loan or even student loans. In June 2017, U.S. consumer debt rose 3.9 percent to $3.856 trillion. That surpassed last month’s record of $3.843 trillion. The key to debt is being able to pay it off without damaging your credit score.

Top Ten Causes of Debt

  1. Reduced Income With The Current Amount of Expenses
  2. Divorce
  3. Poor Money Management Skills
  4. Medical Expenses
  5. Gambling and Addictions
  6. Underemployment/Not Earning Enough
  7. Spending before you get Paid
  8. Not Saving Enough
  9. Inflation
  10. Financial Literacy

 

Examples of the top 10 causes of debt

1. Reduced Income with the current amount of expenses: Earning a lesser amount per year could be due to a job change. Outstanding bills don’t just go away with a job change. Your current bills will likely stay the same and possibly could increase. You may feel like you are unable to keep up with your monthly bills and wind up deeper and deeper in debt.

2.Divorce: As divorce continues to become more common and couples are spending a significant amount of money beating each other up in the court rooms. One thing is valid divorce, and family lawyers are not cheap, and the more time you spend battling it out in courts, the more you will spend on legal fees.

3. Poor Money Management Skills: Many Americans live paycheck to paycheck, and one little mishap can cause you to snowball. Keeping a monthly budget is essential when you have a debt to pay off. If you are not keeping track of your monthly income and the amount you are putting out in bills, you will wind up in financial trouble.

4. Medical Expenses: Medical services are often necessary to remain healthy, and depending on your situation can be extremely harmful to your pocket book. Many doctors, dentists, and hospitals require the payments at the time of service. A significant portion of specialists and dentists accept credit cards and offer to finance. Essentially this means more debt for you, not them.

5. Gambling and Addictions: Gambling and any other addictions can be downright dangerous financially! Gambling may seem exciting at the time, but dealing with the financial strain after you have spent your house payment, car payment and possibly drained your savings you may feel devastated. If you have a gambling problem or any other addiction that is draining your pocket book, reach out to a professional for help.

6. Underemployment/Not Earning Enough: This is very similar to #1. If you are underemployed, you may feel it is a temporary situation, and in a matter of time, it will work it’s way out. This can lead to a false sense of financial relief especially when you are collecting unemployment. Taking a break is great, but you will want to make sure you are making more money than your monthly bills and ending up in a financial hole.

7. Spending before you get paid: Counting your chickens before they hatch is never a good thing. Buying something today depending on tomorrow is never a good thing. Life can change in a matter of minutes, buying something in hopes of an upcoming bonus could leave you in a financial bind, if something unexpected happens and you don’t receive that bonus. Don’t spend until the money is physically in your hand.

8. Not Saving Enough: Putting aside money every month can significantly impact your financial health. It doesn’t matter how much you make monthly you will want to save something every month. Building a nest egg for emergencies is crucial. Ideally, you will want to try and save up to six months of living expenses in case of something bad happens, such as a layoff, you become ill or a divorce. Remember to “Pay yourself first

9. Inflation:  is often overlooked when it comes to debt. You may not realize how much the cost of living goes up every year. In recent times companies and administrations have struggled to stay afloat and are unable to give annual raises. With the price of housing, food, gas and other expenses increasing annually, this leaves the employees finding ways to supplement the cost increase. Look at the type of savings account you have your nest egg in, find ways to cut back on food and other expenses.

10. Financial Literacy: Many consumers do not quite understand how many works, how money grows, how interest rates function or how to invest in your futures. I am sure there is someone in your immediate circle who doesn’t even know how to balance a checkbook. Think back to when you were in school, were you taught this information? You are responsible for your own life and future, therefore taking charge is your responsibility. If you feel you are inadequate in these areas, take charge and educate yourself. Financial mistakes can be very costly and take you years to recover from being uneducated.

Tips to Pay Off Credit Card Debt Faster- Credit Law Center

Carrying credit card debt isn’t uncommon for Americans, according to a recent report by ValuePenguin, Inc 38.1% of Americans carry some credit card balance. When it comes to paying off credit card debt, one recurrent question is how to pay it off the faster. Every household has their unique financial situation and personal goal, so there is not one particular strategy that works best.

Evaluating your financial situation and determining what your hopes and dreams are. Once you have figured out what goal you are aiming for is, then you will be up to come up with the best strategy to be the debt off the fastest.

Pay Down the Credit Card With the Highest Interest

Card statements are required to have the interest, finance charges and the monthly charges. The first step would be to gather all your monthly card statements and compare the interest rates and finance charge. Determine which card has the highest rate and start with paying that one down first. You will want to make sure you budget an amount greater than the minimum monthly payment. An important factor in paying down the cards faster is sticking with the higher amount. If you choose to pay $200 a month, make sure you pay that even when the minimum payment goes down.

Pay the Card With the Lowest Balance First

If you are a person who does well with checking items off a list, this option may be beneficial for you. For some, it is easier to stomach paying a card with a $600 over the card with the $2600 balance. By choosing this strategy and paying more than the minimum balance you will see results quicker. Paying the lowest balance first is a great option if you need to see light at the end of the tunnel faster.

Consolidation of Credit Card Debt

As mentioned earlier each situation is different, and there is no right or wrong way. Many consumers have multiple cards with a significant amount of debt, and their credit card debt can quickly spiral out of control; Americans are tempted at just about every store to sign up for savings. If you have signed up for many different accounts and racked up a significant amount of debt consolidating them may be an option for you. Obtaining a consolidation loan from your bank or credit union to pay off the balances and leave you with just one monthly payment and less interest.If your budget allows you to pay more than the monthly payment it is wise to do so.

Don’t Forget How You Ended Up in Debt

Credit cards are an essential factor in building your credit score, however making sure you use them correctly is key. Keep in mind how you got into debt in the first place and always remember what your goal is. If your goal is to buy your own house, or a new car, post a picture somewhere where you will see it daily.

Debt Collectors Do Not Care About Your Divorce Decree. – Credit Law Center

A divorce decree is the final courts ruling or judgment in the termination of marriage. In this final judgment, the two parties will divide properties, determine spousal/child support and divide financial debt. Something that is brought up a lot in regards to credit reports and debt collections is, my spouse was supposed to pay that debt according to our divorce decree. Yes, your spouse may have been deemed responsible for paying this debt; however, the credit card companies or other financial institutions do not follow the divorce decree

Why do financial institutions not abide by the divorce decrees?

A financial institution only follows the legal binding contract you signed with their organization, so if you and your ex-spouse signed a joint account with their company, you would both be held responsible for the account. It is a good idea that you and your ex-spouse try and pay off any debt before filing for divorce.

It is important to remember that even if your spouse is deemed responsible for paying A, B and C debt in the divorce, and if they do not pay they will come after you and any missed payments will harm your credit and possibly cause the creditors to file judgments.

The debt you are unaware of.

Some states are community property states, and you could be held responsible for the debt that your spouse incurred, even if you are unaware of and did not sign a contract with. Community property states consider marital debt – joint debt.

Things to Consider.

Add an Indemnity clause to your divorce decree in cause you have to pay for his or her portion of the debt to protect your credit rating. The Indemnity clause will allow you to take him or her back to court to allow you to sue for reimbursement.

Make sure you are aware of all debt that is on both reports when filing for divorce if you live in a community property state.

Try and pay off as much debt as possible, before filing for divorce.

Make sure any house or car loans are refinanced in one name so that both names are not on them.