5 Ways To Numb The Financial Pain Of Divorce

Whether it comes before or after the papers are signed, economic hardship is all too familiar to many couples who divorce. Following a few financial guidelines can ease the burden during this difficult time.

Each year, 1 million Americans divorce. More than 80 percent of divorcing couples cite “debt and financial distress” as the primary factor in the dissolution of their marriages, according to an American Bar Association survey, and studies find that most families suffer a financial decline following a divorce. By taking steps to protect credit, families can come through in much better shape. Bills.com, a national consumer finance portal, encourages divorcing couples to take the following steps:

1. Accurately assess debts and liabilities. First, see yourself as your creditors do. Online (see http://www.myfico.com ) or by phone, you can request a "tri-merge" credit report (a summary from all three major credit reporting bureaus). Note all of your existing shared and individual liabilities. Settle (or get a judgment) on how you'll allocate these responsibilities.

2. Plan on how to handle your home. If you own a home, the mortgage is likely your most significant monthly payment. Be certain you understand how you'll resolve monthly mortgage payments, and how you'll divide the home's value – whether one partner buys out the other now, or the home is to be sold after children are grown.

3. Budget for payments. Create a detailed budget, based on your new income level, and use free cash flow to pay off debts. Most people find the most efficient way to pay off debts is to first pay off smaller bills – starting with under $100 – then pay off loans and unsecured debt, such as credit cards, beginning with the account with the highest interest rate.

4. Make sure your ex-spouse is making his or her payments. If possible, make provisions in the divorce agreement for reporting on resolution of significant debt. There are important implications for you personally if your spouse does not meet his/her end of the bargain on liabilities allocated through the divorce proceedings.

Call all creditors for shared accounts (credit cards, gas cards, department store cards, phone cards, etc.). Close the accounts if you are not carrying balances, or remove your name from jointly held accounts. Remember that for jointly held credit cards, and for any other debts incurred during the marriage in community property states, you have shared liability – and thereby share any potential negative credit rating impact. This means that if your spouse does not make payments after the divorce, it could come back to haunt you – and your credit rating.

If you owe back taxes, be aware that the IRS does not have to honor a decision from a divorce judgment. Consult a tax expert to help with your divorce tax planning.

5. Focus on rehabilitating your credit and financial health. Begin a savings plan. Reinvest any proceeds or equity that come out of the divorce proceeding, and be especially cognizant of building yourself a retirement fund for the future.

If you find yourself in trouble during this stressful time -- in which you must make many financial decisions -- seek help immediately from a reliable, professional debt resolution firm. Be sure to investigate the company you choose to assist you, and seek out a company that operates for the consumer, which is markedly different from credit counseling, debt consolidation, and debt management firms.

How to Recognize a Problem

With more and more people gambling these days, there are more reported cases of gambling Addiction then ever before.

Gambling problems can manifest themselves in many different ways. Some problem gamblers will have all of these signs of their gambling problem and some others may only have one. Gambling addiction affects players of all different forms of gambling like Blackjack, Poker and even Bingo

The most important thing to remember is just because their life is not horrible because of their gambling does not mean there is not a problem, many people can have serious gambling addictions and still hold down a job and make it seem as if everything is fine. This just means that this person has not hit a bottom yet, but eventually it will catch up with them.

Most addicts will stop socializing with anyone not into their addiction, so if suddenly someone you know cuts out all their friends from their life and starts to isolate themselves this can be a sign.

A simple thing to look for is if they are overly interested in the sports scores, and if after reading them to they become ecstatic or depressed. No one likes it when their favorite team loses, but a gambler will have major mood swings depending on if they are winning or losing.

A big sign of gambling addiction is someone who is constantly having money problems and asking to borrow money but never pays it back, but sometimes out of nowhere this person will seem to have large sums of cash.

Lying and stealing is another good clue to a gambling addiction, they will make up all sorts of excuses for their odd behavior, and you may notice small, but expensive items missing from your home.

If when visiting this person if you notice that some of their things are missing, or if they tell you they have had to sell some things, then there is a good chance that what they sold either went to pay of gambling debt or to make new bets.


There are many other signs but these are the most common symptoms of gambling addiction according to addiction professionals. If you see 2 or more of these symptoms in someone you know you should immediately try to get this person to accept their problem and seek professional help.

Without help gambling addiction leads to the same place as drug addiction or alcoholism, eventually they will be overcome by their addiction. At this point they will be fully cut off from friends and family.

Most gamblers with bad addictions usually wind up jobless and in many cases homeless if their addiction is allowed to go unchecked for too long, and studies have shows that people with gambling addictions are more prone to illness because thy allow their health to lapse.

For more information on gambling addiction talk to your family doctor or look on the internet for the gamblers anonymous web site, or from one of the many internet web sites dedicated to helping gambling addicts to locate professional help in their area.