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Life doesn’t always work out as planned and you don’t plan for a marital breakdown.  Paying accumulated debt can be daunting, in some cases one spouse is left to pay bills on their own.  You may need to draw from your home equity to pay credit cards or buy out your former spouses portion of the matrimonial home.  At Advanced Private Lending we have the solutions to help you manage this transition  and gain control of your finances.

Dealing with a separation isn’t easy, and once children, assets or debt are factored in, it becomes even more difficult. Dealing with debt can be especially challenging for single income families or those paying alimony or child support. However, it is important to maintain regular payments to joint debts. Some separating couples may halt re-payments of their debt until the determination is made as to who will be responsible for what. This can have a very negative impact on both parties when it comes time to re-build credit.

Divorce can affect your credit significantly, and if you are left with debts you are unable to repay, there are options available to you. Debt consolidation or financial restructuring can help in the re-building process.