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Divorce Leads to Financial Woe

Challenges are yet to come after divorce. You may have obtained freedom from your spouse but you cannot disappear from the unsettled financial obligations. Divorce decree clarifies that it does not change one’s financial obligation to the creditors. Borrowed money should still be paid as agreed through divorce settlement or by court order. The decree is legally binding on the ex-spouses, but not with the credit card company. Thus, it implies that the company has the right to collect payments from either party. Other investments that are yet to be fully paid should be reconciled before the problem gets worst.

Source: http://money.msn.com/saving-money-tips/post.aspx?post=06b34825-cbac-4e10-810e-a55be54680e1

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