Protect your Credit in Divorce

    For many, a divorce becomes an all-out battle about splitting up assets and dividing finances. It’s essential that as soon as you know you’ll be getting a divorce, you take steps to protect your personal credit rating and credit score.            

Start by obtaining copies of your credit report from the three credit reporting agencies (also known as credit bureaus) – Experian, TransUnion and Equifax. In theory, all three of these credit reports should be identical. However, in reality, you’ll notice subtle differences, based on whether each of your creditors and lenders reports information about you and your payment history to all three bureaus. There are several ways to obtain copies of your credit reports, including:

1. Go to the official Annual Credit Report Web site.
This Web site is operated as a collaboration between the three credit reporting agencies and the Federal Trade Commission. It allows consumers to obtain one free copy of their credit report, from each credit bureau, once every 12 months. (Warning: Beware of imposter Web sites that claim to offer free copies of your credit report, but actually require you to sign up and pay for an ongoing credit monitoring service.)

2. Contact each credit bureau separately to request a free copy of your credit report. You can do this by telephone, online or in writing. 
The quickest method is online. The Web sites to visit are: Experian.com, TransUnion.com and Equifax.com. You can purchase a three-in-one credit report from any of the credit bureaus or from a variety of other companies. These reports contain identical information to what’s listed within the single credit reports issued by each credit bureau, but the information from the three credit bureaus is displayed together in an easy-to-read format within a single report. This makes comparing the information on your three credit reports easier. The charge for a three-in-one credit report is anywhere from $19.95 to $39.95, depending on the service you use.