If you’re going through a hostile divorce in Oklahoma, you’ll want to make sure to protect your finances. These tips can help you keep your money safeguarded regardless of the situation.
Close joint financial accounts
Close joint financial accounts you share with your spouse. Be sure to let them know that you’ve done this. If you have any accounts that still show an outstanding debt, contact your creditor to explain that you’re getting a divorce and will not be responsible for additional debts going forward.
Open a new bank account in your name
If you have joint bank accounts with your spouse, withdraw some or up to half of the funds and use it to open new bank accounts solely in your name. Make sure you put most of the cash in savings so it can accrue interest. Keep around $1,000 in a checking account.
Check your credit report and open a new credit account
Obtain a copy of your free credit report and thoroughly review it. If you already have good to excellent credit, you’re in good shape. Look for potential errors in the report and contact the credit bureau to correct them if there are any present.
Open a new credit card account that’s in your name only. If your credit needs work, you can gradually build your way to a good score with responsible usage.
Safeguard important property
If you have any personal property that’s valuable or even not very valuable financially but dear to your heart, protect it by storing it in a place where your spouse can’t get to it. You may want to get a safe deposit box in your own name or have a friend or family member hold onto the property for the time being.
