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Divorce and Your Money - #1 Divorce Podcast

Visit us at www.DivorceAndYourMoney.com Divorce and Your Money is your guide to avoiding costly mistakes during divorce. Shawn Leamon, Certified Divorce Financial Analyst and MBA, wants to help you learn the fundamentals of how to get a divorce. Whether you are looking for an uncontested divorce, a do it yourself divorce, or an online divorce, resources are available to offer guidance. Through his divorce podcast and divorce blog, Shawn offers his professional opinion on the best ways to handle the end of your marriage. He covers topics including how to file for divorce, divorcing a narcissist, and finding the best divorce attorney. Even tricky subjects such as a “what is a QDRO?” and “is alimony taxable?” are tackled through these venues. If you need to know what the first steps are or what you should do to head to trial during litigation, you can find resources to give you a step-by-step guide to what comes next. Think of his advice as an alternative to divorce support groups where you can find exactly what you need when you need it. He offers one-on-one divorce coaching to give you a solid grasp on the decisions that are bound to affect your financial future. Before you have a divorce decree in hand, you will likely go through some type of divorce mediation. For any spouse saying, “I want a divorce,” you need to make sure that you are getting the financial future you are entitled to. Do not allow yourself to be blinded by the emotional, legal, and financial burden that divorce can become. Instead, take control of your situation with sage wisdom to help all individuals make better financial decisions for their independent future. If you find yourself asking “where are the best divorce lawyers near me?”, Shawn can help you to recognize the best of the best. Whether you need a divorce in Texas, a divorce in Florida, or a divorce in New York, you will have all the knowledge you need to find the best team of professionals to assist you. You can start from a place of being legally separated or once you have already started to file for divorce using free divorce papers or an attorney. No matter where you or your marriage may be in the process, Shawn Leamon has professional advice to offer your unique situation. A simple no fault divorce or a high-stakes power struggle are all areas he has vast experience with during his work outside of Divorce and Your Money. Let his advice be a guide to help you get all that you need for a secure financial future in your divorce records. It will not make a difference whether you are getting a divorce in Ohio or a divorce in California if you are following the basic principles set out through Divorce and Your Money’s divorce blog, divorce podcast, and divorce coaching.
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Jun 22, 2017
This episode is about protecting your identity during divorce. We already touched on this topic when we talked with cybersecurity experts in Episodes 109 and 122. This time, we will focus on one specific tip that can give you peace of mind during and after your divorce.
 
People who are going through a divorce often realize that their soon-to-be ex-spouse has access to all of their personal information, which could be used to fraudulently apply for a credit card or take out a loan in their name. Their spouse knows their social security number, birthday, past addresses, and the answer to almost every security question that banks use to verify someone’s identity. Particularly when the divorce is not amicable, it becomes a real concern that the ex-spouse could open a line of credit in your name. Many people want to know how they can protect themselves.
 
You may have seen commercials for identity-protection companies or credit-monitoring services. These companies monitor your credit report and alert you when there is any change. However, they all include disclaimers saying that they are not able to protect you in all circumstances. These services typically cost $9-30 per month, which adds up over time. There is a simple solution that gives you better protection and costs less.
 
Most people do not realize that their credit report is open all the time. In other words, any company can find out their credit history, so they can decide whether or not to issue you credit. Therefore, without your knowledge, someone has access to all your personal information. However, you can freeze your credit so that it cannot be accessed without your knowledge.
 
Here is how this process works:
 
1.     You request a credit freeze from all three credit reporting agencies (Equifax, Experian, and TransUnion). It takes 5-10 minutes for each credit agency and costs about $10 each.
 
2.     Your credit report will then be “frozen,” so that no company can request that information without your permission. You will choose a username, password, and a code to control access to your information.
 
3.     When you apply for a new line of credit, the lender will tell you that they need to access your credit report. You will usually only need to take this step for one credit agency. You will contact the credit agency and ask them to open your credit report for a short period (i.e., 24 hours). You will again pay a fee of roughly $10.
 
4.     The bank or credit card company will request your credit report as they normally would, and your credit report will be re-frozen after the designated period.
 
Keeping your credit frozen is an excellent way to protect yourself because you have to explicitly give permission for companies to access your credit. Most people only open new lines of credit a couple times per year, so it is not necessary for it to be open all the time. Although it costs some money, the price is much less than identity protection services, and it is actually more secure. When you ask to have your credit frozen, you can also choose to receive notifications about your credit score and changes to your credit history.
 
Everyone can take this small step to help secure their finances and protect themselves from identity theft.
 
Thank you for listening to the Divorce and Your Money Show. Visit us at www.divorceandyourmoney.com for 1-on-1 coaching. If you enjoyed the show, please take a moment to leave a review on iTunes, as it will help other people discover this free advice.
 
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