Should You Freeze Your Credit During A Divorce?

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If your money, assets, debt and accounts are deeply intertwined with your spouse’s, you might want to consider a credit freeze while the divorce proceedings are taking place.

Also called a security freeze, this fraud-prevention measure limits access to your credit file, preventing any new accounts from being opened in your name. If you think your spouse might open accounts in your name or rack up debt on shared accounts, a freeze can be a way to protect yourself.

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Why freezing your credit can protect you in a divorce

Credit freezes restrict access to your credit report. While your existing creditors will be able to view your credit report, new applications for credit will not be processed as lenders will not be able to access your credit history.

Bear in mind that under certain circumstances, government agencies may be able to access your report if there’s a subpoena or administrative order, say for child support. Others that will still have access to your report include landlords and property managers who use credit checks during tenant screenings, insurance companies that check credit to set premiums, and pre-employment background investigators (but only with your signed consent.).

Should you need to apply for new credit accounts at any point, you can always lift the credit freeze temporarily (also known as unfreezing or thawing your credit). Also, note that you can check your credit report and the status of your credit freeze for free at any time.

How to freeze your credit

Putting a credit freeze in place is simple and completely free. All you have to do is contact each of the three credit reporting agencies — Experian, Equifax and TransUnion — online or over the phone to request the security freeze.

You’ll have to provide some personal information, such as your name, Social Security number, date of birth and contact information. Make sure to get in touch with all three credit bureaus, since companies use different bureaus to access your credit. If you only place a freeze with one or two of the credit reporting agencies, you’re leaving yourself open to a creditor requesting a credit report from the bureau you didn’t place a freeze with.

Credit freezes usually go into effect immediately, but TransUnion recommends checking within an hour of your request. If you need to thaw your credit temporarily to apply for a loan or credit card, you can request that the freeze be lifted during a specific period — otherwise, they’re indefinite until you request they be removed.

Other precautions to take

Aside from a credit freeze, there are other measures you can take to protect your credit during a divorce process.

Check your credit report

Pulling your credit report gives you a clear picture of your debt and your credit history.

When reading your credit report, note that it will show all your existing credit-related accounts (including any negative or closed ones), any hard or soft inquiries for the last two years, and of course, your personal information. Look for any errors or inaccuracies, or unfamiliar charges.

You can get free reports every week at AnnualCreditReport.com, but note these won’t show your credit score.

Remove your spouse as an authorized user

Authorized users can make purchases with a credit card without being legally liable for the debt. Make sure to remove your future ex-spouse from any accounts in your name if there's a risk they could rack up charges on the account and not repay them.

Separate your accounts

It’s common for spouses to have joint savings and checking accounts, or joint credit cards. You may also have assets in investment or retirement accounts you need to separate as part of your divorce process.

If you live in a state with community property laws — Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin — each spouse has a share of the marital assets. That can include real estate, property, bank and retirement accounts, pensions and securities. Community property laws establish, then, that any debt acquired during the marriage must be shared equally, regardless of whose name it’s under.

Consider a refinance

Joint debt involved in assets, such as a house or car, may need to be refinanced in the name of the spouse who will keep the asset. Refinancing will separate the debt so it isn’t owned by both spouses.

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Should You Freeze Your Credit During A Divorce FAQs

Does divorce affect your credit score?

Your marital status doesn’t directly affect your credit score, since credit bureaus have individual reports for each person. However, divorcing may have other financial consequences that can affect your credit. You may have to close a joint credit card, for instance, or take on more debt.

Can I open a credit card during a divorce?

How do I freeze my credit on all three bureaus?