Filing for divorce could have a negative impact on a credit score whether a person is getting divorced in Texas or any other state. One reason why a credit score could suffer is because joint accounts were not closed when the marriage ended. Credit bureaus receive information about anyone who is listed on such an account.
Therefore, if there is a missed or late payment, it will show up on an individual's credit report even if he or she didn't accrue the debt in question. The same is true regardless of who is responsible for making payments on a joint debt under the terms of the divorce decree. This is because a creditor is not bound by the terms of the decree. One solution is to transfer the debt into the name of the spouse responsible for paying it back. If both parties agree to pay a portion of the debt, it can be split into two loans.
While a person's gender won't impact his or her credit score, women may experience greater negative consequences after a divorce. According to the Bureau of Labor Statistics, women make about $200 less per week than men. An Experian survey found that 50% of female respondents said their former spouse took steps to ruin their credit.
The end of a marriage may result in damage to a credit score if precautions are not taken. An attorney might suggest taking steps such as freezing a credit report or setting up credit alerts after a divorce is over. This may help a person avoid being penalized for the actions taken by a former spouse such as accruing new debt or failing to pay debts as agreed.