A Compassionate Personalized Approach To Professional Legal Help

When should divorcing spouses get separate credit accounts?

On Behalf of | Jan 4, 2022 | Divorce

When one or both spouses are contemplating divorce, the idea of starting one’s post-divorce life is always the light at the end of a dark divorce tunnel. However, a common question pops up: when one should start getting separate credit accounts.


The idea of, “when” is different for every couple. Though, it is time to start thinking about separating finances at the time the couple decides to divorce. Since they will both now be moving towards two separate lives, it is best to start that separation then.

Do not retaliate

When this separation begins, do not immediately take spouses off as authorized users. Until one consults their attorney, do not attempt to take spouses off joint accounts. Do not liquidate or max out accounts. This can have a negative affect during the property division portion of the divorce proceeding, and it will force the other spouse to go to court immediately to freeze assets, complicating everyone’s life and increasing divorce costs.

New lines of credit

If one spouse does not have any credit cards, when the couple decides to move toward divorce, it is a good time to open new lines of credit. This should only be in the name of one spouse (the one who does not have any credit cards), but they can use the household’s dual-income to help get new lines of credit easier (and with much higher credit lines). This can be incredibly helpful when transitioning and budgeting for a post-married life.

Mississippi is a unique state

For Gulfport, Mississippi, residents, please know that what we see online about divorce laws, generally, do not apply to our state. We have unique divorce laws. However, one aspect that is common throughout the country is when couples should start untangling their financial life. And, that point is when there is a decision to divorce.