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Can Your Credit Score and Credit Reputation Be Recoverable Damages in a Divorce? Yes

Doug Minor, Is a Credit Scoring, Credit Reporting, Personal Finance and Mortgage Expert. He has served as a FCRA Credit Reporting, Credit Scoring, Mortgage and Damages expert witness in over 125 cases in both Federal and State Courts across the U.S.

What can a Credit Damages Expert bring to a divorce case?

Having the ability to quantify and put a dollar value on the impact to someone’s credit is essential. Being able to explain the methodologies and calculations in terms that would be easily understood is key.

Here’s an example: If due to your ex-spouse harming your credit profile you are subjected to a new mortgage payment on a 30 year fixed rate mortgage being $50 a month higher due to your credit score being lower. That adds up to $600 extra per year and if paid until the end of the 30 years that would total $600 x 30 years = $18,000.

How much money can be recovered in an average case?

Being that every case is different and the socioeconomics of the individuals involved varies, a range of $30,000 on the low end up to over a million dollars is not out of the question. The
question becomes, what is important to the parties involved and do they want to pursue it. Most due want to pursue it in my experience, they want to recover their good credit rating. Think about it this way, in our society today how important is a credit score to you? To most that I speak with it’s close to the top of their list on financial importance.

Who, How, and When should you go about engaging the help of a Credit Expert?

I have been retained by both the law office and/or attorney as well as the spouse. It is a choice to be made by all involved. In the beginning an evaluation of the suspected impact can be reviewed by looking over any credit reports along with some supporting documentation, such as tax returns, paystubs, bank statements, divorce decree and settlement agreement. This should be done early on in the process, with the hope and possibility to minimize the damage.

By Easy Credit Relief Inc.
FCRA Credit Reporting, Credit Scores and Damage Expert Witness
Doug Minor is President of Easy Credit Relief Inc. and serves as a litigation consultant/expert witness for those involved in credit reporting, credit scoring, credit damages as well as mortgage litigation and divorce matters.

Copyright Easy Credit Relief Inc.

Disclaimer: While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer.For specific technical or legal advice on the information provided and related topics, please contact the author.

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