Divorce mediation: Maryland couples who have been married for a long time and are now considering divorce may not realize that years of a joint credit history may become a detriment to one of the partners once the dissolution of the marriage is finalized.  This problem statistically affects more wives than husbands, but in fact, it can hinder either gender.

Recommended Actions Prior to Divorce Mediation: Maryland

As soon as divorce mediation is contemplated, both husband and wife should take steps to protect their financial futures.  One of the most important things to establish is a separate credit history.  If all the credit cards held by husband and wife are joint cards, then after the marriage is dissolved that joint credit history may not be considered valid for one of the parties.  The way to avoid this problem is for each party to secure a separate credit card in advance of the divorce and begin building a credit history in their own name. 

A separate checking account is also a good idea, and each partner in the marriage should have a separate copy of all-important financial documents such as bills, credit card statements, bank account statements, and insurance policies.  Should a divorce become problematic, it may be difficult to obtain these documents later.

Find  Divorce Mediation Attorneys in the National Mediation Directory.