Divorce and Other Ways You Can End Up in Debt

Credit is a legitimate means to acquire items you need when you do not have the cash to purchase them outright. For instance, most people buy homes and cars on credit. These big-ticket items are considered to be good investments. A home will build equity and a reliable car gets you to work on time. Credit cards can be a great way to earn rewards like airline miles, but you can get into trouble if they are not used responsibly.

Debt doesn’t just happen. It usually takes time to get into debt, and it will take time to get out. Our Orlando divorce attorney explains that aside from the usual credit cards, loans and mortgages, the number one way that people find themselves in sudden debt is divorce. There are several reasons that divorce is so difficult financially. Are there steps to take that can prevent divorce from ruining both parties financially?