Experts say rebuilding credit after a divorce is possible, but it takes the same hard work and solid spending habits that secured that high credit score in the first place. They recommend closing joint accounts if possible and requesting credit reports from all leading credit bureaus. Residents of Wyoming often find that divorce is just as tough on credit scores as it is on the people involved.

Some couples try to separate debts and divide assets on their own, but this is not always an option. If the parties cannot agree, then a judge will decide. Once the divorce is over, the final decree will contain a list of debts and who pays them. If one spouse fails to make payments on joint accounts, the divorce decree will not protect credit ratings.

Refinancing loans is another option to merge debt, but without enough income to support a new loan, it may not be approved. Individuals can consider selling vehicles or homes that are jointly owned to settle marital debts. While there is no quick fix when credit is damaged because of late or missed payments, paying down as much debt as possible will help increase credit scores.

Rebuilding credit after a divorce takes time and discipline. A good credit score can make it a lot easier when it comes to car loans, rental applications and even getting a new job. Residents in Wyoming who have concerns about their divorce and the impact it may have on credit scores would benefit from consulting with an attorney to achieve the best possible outcome for their situations.