Back to Navigating Divorce
Module 4 of 6
Rebuilding Credit After Divorce
Steps to establish your own credit history and financial independence.
10 min read
Rebuilding Credit After Divorce
Divorce can significantly impact your credit score and financial identity. This module covers steps to establish your independent financial footing.
Why Your Credit Matters
Good credit is essential for:
- Renting or buying a home
- Getting a mobile phone contract
- Certain job applications
- Lower interest rates on borrowing
First Steps
- Get your credit reports - Check Experian, Equifax, and TransUnion
- Remove financial associations - Formally disassociate from your ex
- Register on the electoral roll - This helps build your credit file
Building Your Credit Score
If you have limited credit history in your own name:
- Open a credit builder card
- Use it for small purchases
- Pay in full every month
- Never miss payments
Tip: Set up direct debits to ensure you never miss a payment date.
Addressing Joint Debts
- You remain responsible for joint debts until they're paid off
- Contact lenders to discuss separating accounts
- Document any agreement with your ex about who pays what