How Divorce Can Effect Credit Scores
While the actual act of getting a divorce does not affect a party's credit score, there are residual effects that can greatly impact credit scores.
First, when parties divorce, the liabilities get allocated. One person may assume one credit card, while the other may assume another. While one person may become responsible for the payments of a joint credit card, the original credit card agreement may remain in both parties' names. If this occurs, and there is non-payment, it will likely effect both parties' credit scores, despite who is responsible for the payments pursuant to the Judgment of Divorce.
Similarly, if both parties' names are listed on a mortgage, but one party is keeping the house and becomes responsible for the mortgage, it is imperative that they actually make the mortgage payments and refinance the property to remove the other person's name. If they do not, despite the Judgment of Divorce, both parties' credit rating will be effected.
Additionally, if a party is ordered to pay child support and spousal support, and does not, then the recipient may request to the Court that a judgment be entered against the payor. If a judgment is entered, then it will likely be reported to the payor's credit report.
It is imperative that all payments required to be made in the Judgment of Divorce actually be made, as failure to do so can have long lasting effects on not only the payor, but both parties.
Does Getting a Divorce Hurt Your Credit?, Brooke Niemeyer, http://www.foxbusiness.com/features/2016/07/05/does-getting-divorce-hurt-your-credit.html, July 5, 2016.