by hussainlaw | Jul 25, 2022 | Hussain Law
It is common for people to overlook their credit score during the chaos of a divorce. Unfortunately, that’s not a good idea.
Does a Divorce Lower Your Credit Score?
Since your credit report does not show whether you are married, single, or divorced, changing your marital status will not affect your credit score. Nevertheless, the way you manage any joint accounts with your former spouse can have an effect on your credit score.
There are several factors that affect a credit score after divorce:
1) Joint Debt Not Paid
Your credit score could be damaged if your ex-spouse makes late payments or does not pay altogether on the joint credit card account he or she was ordered to pay in your divorce decree.
In the event that a larger portion of marital debt is accumulated than anticipated, consider refinancing options in order to save money on interest. For instance, debt consolidation loans can reduce monthly payments.
2) Adapt To Your Income
It is possible to become financially drained by divorce, even if it is amicable. It is unlikely that you can maintain the same lifestyle if you go from having two incomes to one. If you’re owed alimony or child support, you shouldn’t rely on it for your budget; you should instead base it solely on your own income. You may be able to reduce your internet, cell phone, and grocery bills if you evaluate your expenses and discretionary spending. Be sure to pay your bills and make loan payments on time to preserve your credit score.
3) Reduced Credit Limits
Credit card companies usually lower credit limits when two incomes become one. You might suddenly find yourself in the overlimit danger zone if you carry a lot of credit card debt. It’s important to reduce your balance and not borrow more than a certain percentage of your maximum credit amount in order to maintain a healthy debt-to-credit ratio. You should take a look at your existing credit score before applying for another credit card to help distribute your existing debt.
4) The Refinancing Process
If you are suddenly a sole borrower after refinancing a home, it can affect your credit. Applicants for mortgages leave hard inquiries on their credit reports, which may temporarily lower their credit scores. Your debt-to-income ratio will also be negatively affected if you’re suddenly responsible for the whole loan, which could have an impact on your credit score. When refinancing, make sure to shop around for the best deal.
How to protect your credit score during a divorce
- Important Documents: Before you divorce your spouse, gather your financial documents, such as tax returns and recent bill statements.
- Financial Adviser: Seek realistic advice about the financial impact of your divorce from a financial adviser you don’t share with your spouse.
- Bank Accounts: Open new bank accounts in your name alone and close joint accounts.
- Keep track of your payments: Keep track of the due dates for your spouse’s accounts in your name, and check to see if they have been paid in time.
- Divorce Lawyer: It is important that you hire an experienced divorce lawyer who will be able to help you locate all of your assets and debts and solutions tailored to your problems.
Along with the above-listed points, you should also strive to separate your fortunes so that they aren’t entangled, it’ll just make sense and remove a source of conflict during divorce negotiations and rebuilt the credit score.
Prepare For Divorce With Hussain Law
Divorce can be emotionally and financially draining and highly unpredictable. Learn more about how to avoid divorce mistakes as the right lawyer can provide you with divorce and family law solutions tailored to you.
At Hussain Law, we focus on helping our clients navigate separation and divorce’s emotional and financial challenges. Our office remains fully operational, and we have implemented various new procedures that allow us to continue to advise clients seamlessly during this time.
If you have a family law issue or want to prepare for divorce that you need assistance with, please contact Ayesha Hussain a divorce lawyer in Toronto at 647-428-3919.
by hussainlaw | Jun 20, 2022 | Uncategorised
In Ontario, you may wonder when you should consult a divorce lawyer when going through a divorce? Our goal at Hussain Law is to create solutions tailored to every client’s individual needs. We recognize that every family law client is unique, so we strive to communicate with our client’s individual needs. It is important for your family and you to receive individual attention during the separation process.
The following blog explains common scenarios when you should consult a divorce lawyer:
1) Separation In Its Initial Stage
To begin the separation process, you should at least consult a divorce lawyer. If so, why? In the early stages of your separation, the actions you take can have significant effects in the future. The decisions you make regarding parenting, support, and property must be carefully considered. A well-developed plan can save you significant amounts of time, money, and stress down the road.
Obtaining customized and more personal advice requires the consultation of a divorce lawyer. In order to feel at ease during your initial separation period, you may want to keep a divorce lawyer.
2) Violations and Harassment
An experienced divorce lawyer can help you find options for putting an end to abusive behavior, whether it is physical, emotional, or verbal. Depending on the severity of your spouse’s behavior, you have several options available. To prevent escalated threats and abuse in the future, you can use options such as calling the police, obtaining a restraining order or non-harassment order, and any such option that fits your situation.
3) Denial of Access
In the case that you are considering withholding your spouse’s access to the children or you have been denied access, it is in your best interest to consult a divorce lawyer. Denying access to children is a very serious matter to the court. Occasionally, there are legitimate instances in which the option of denying access may be allowed, but these are the exception and not the rule. The only thing that can help you better understand the rights and obligations you have in the future is if you consult a divorce lawyer.
4) Denial of Support
It is in your best interest to consult a lawyer as soon as you owe child support or spousal support. You can save a lot of money by knowing your rights and if necessary taking action to get the case into court. In some instances, the court may limit the amount of time a retroactive support claim can be made if the child support or spousal support claim is delayed. For child support, the court will usually not permit you to go back more than three years to claim retroactive child support. Generally, due to the subjective nature of spousal support, spousal support claims can be restricted to when the court proceedings were commenced in order to avoid retroactive payments.
5) Moving Out Of The Marital Home
As you prepare to move out of your marital home, the best person to contact is your divorce lawyer. If you want to fully understand the process so that you can make the situation to your advantage, then a divorce lawyer can guide you through it. Consider, for instance, if you wish to have sole custody of your children. You might find it significantly harder to prove your case if you leave your children with your spouse while you leave your home.
For these reasons, it is best to seek the advice of a divorce lawyer who can tailor solutions to your individual situation.
Prepare For Divorce With Hussain Law
Divorce can be emotionally and financially draining and highly unpredictable. Learn more about when you should consult a divorce lawyer in Canada because the right lawyer can provide you with divorce and family law solutions tailored to you.
At Hussain Law, we focus on helping our clients navigate separation and divorce’s emotional and financial challenges. Our office remains fully operational, and we have implemented various new procedures that allow us to continue to advise clients seamlessly during this time.
If you have a family law issue or want to prepare for divorce that you need assistance with, please contact Ayesha Hussain a divorce lawyer in Toronto at 647-428-3919.
by hussainlaw | May 23, 2022 | Uncategorised
Divorce and separation are never easy, but protecting your mental health during divorce is key to making sound decisions for the future.
Mental Health: What Makes It So Important?
Whether you are going through a separation or not, your mental health is crucial to your life in every way. In the midst of a separation, most aspects of your life are going to change, so feeling confident about your choices is essential. Here are a few things that would benefit from having a clear mind during a separation:
- Establishing a solid plan of action.
- Support for children and spouses.
- Dividing the property and financial resources.
- Parenting arrangements, schedules, and any other parenting issues.
We’ve compiled a few tips and resources to help you through your divorce, including tips on getting through the divorce process, and looking after your own mental health during a divorce.
Here are our top 4 tips for protecting your mental health during divorce
1) Be Kind To Yourself During Divorce
First and foremost, you need to take care of yourself if you are going to care for others. During a divorce, it’s easy to become overwhelmed, but remember to prioritize your own health and wellbeing. Be sure to get adequate sleep, eat healthily, stay hydrated, and exercise regularly. Even when life gets tough, you can maintain your health by following these simple strategies.
2) Practicing Mindful Meditation For Mental Health
When you are going through a divorce or feeling overwhelmed by emotions, meditation and mindfulness can be a wonderful relief. Meditation is not about suppressing swirling thoughts or feelings but about acknowledging and accepting them without judgement. Once your mind becomes quieter, you’ll be able to find peace within your feelings and thoughts, no matter the circumstances.
Meditation can easily be incorporated into your daily life, whether you do it first thing in the morning, as part of your workout regimen, or as a calming technique.
3) Friends and Family Time
Talking to your family and friends about how you feel can help you get through this time. You may find it helpful to join a support group where you can discuss similar experiences with others. Being isolated can cause stress, reduce concentration, and interfere with your work, relationships, and health in general.
Be patient as you adapt to this life change and work on moving forward in your personal and professional life. It is okay to ask for help outside of your circle.
4) Seek Professional And Legal Assistance
Consider getting professional help, such as a therapist or counselor, if you feel overwhelmed. In order to cope with stress, you will need tools to handle your emotions and a therapist may be able to help you with these. The feelings of being overwhelmed, scared, lonely, regretful, and sad are all normal feelings during a divorce. Also, consider family therapy if your children are affected by the divorce as well. Often, divorce brings a lot of changes to a child’s routine, which can be scary or confusing.
The importance of hiring a divorce lawyer lies in the fact that they help ensure you receive the legal and financial rights you deserve.
Protect Your Mental Health During Divorce With Hussain Law
Divorce can be emotionally and financially draining and extremely unpredictable. Prepare for any circumstances during a divorce with the right lawyer who can provide you with family law solutions tailored to you.
At Hussain Law, we focus on helping our clients navigate the emotional and financial challenges of separation and divorce. Our office remains fully operational, and we have implemented various new procedures that allow us to continue to advise clients seamlessly during this time.
If you have a family law issue or want to prepare for divorce that you need assistance with, please contact Ayesha Hussain a divorce lawyer in Toronto at 647-428-3919.
by hussainlaw | May 16, 2022 | Hussain Law
In Ontario, there are about six million married people; more than in any other province. Despite the fact that this can be exciting for everyone involved, not every marriage will last. Relationships can end naturally as couples change and experience the stresses and strains of daily life, though this can be a good thing for both partners in the long run.
Divorce rates are expected to increase as courts return online and pandemic restrictions ease. Due to the pandemic, many divorce proceedings were delayed. The divorce rate is predicted to rise sharply now that restrictions have been reduced and the courts are functioning.
Staying organized and grounded increases your chances of achieving a fair outcome. In this Ontario divorce checklist, we aim to provide an easy-to-follow divorce checklist to help you get and stay on track and assist you in resolving your family law matters in the right way.
1) Maintain Your Legal Documents
Maintaining your divorce legal documents is one of the most critical aspects of applying for a divorce. The documents serve as a valuable asset during the divorce process. Check out the Simple Divorce Application Checklist.
Here is a list of the most important documents you should know about:
- Put together a list of all the assets you share, including vehicles, bank accounts, credit card debt, medical bills, retirement accounts, stocks, and bonds. Even consider all types of account statements, such as brokerage, checking, and savings accounts.
- Make a list of all joint debts such as mortgages, car loans, retirement plan loans, and student loans.
- Be sure to gather information about any pension or retirement account that either spouse earned during the marriage.
- Organize all the copies of your joint tax returns.
2) Plan Your Accommodations
In addition, divorced couples often choose to stay in the same residence to avoid additional expenses during the divorce process. If living together isn’t an option, it will need to be decided which spouse will stay in the marital home during the divorce. Depending on whether you and your spouse cannot agree, you may have to ask the court for the exclusive use of the property until a judge decides how to divide the property.
A majority of the time when there is a minor involved, the rights associated with the child go to the parent whose financial situation is more stable and can handle the child’s care. It is imperative that you begin looking for a place to stay as soon as possible if your spouse plans on staying in the marital residence throughout the divorce process. To make sure you don’t give up the right to the property, you may want to consult with your attorney before leaving the marital home.
3) Keep Your Finances Separate
Married couples tend to share their finances, and all their accounts are tied to both spouses’ names, which is why it is recommended after a divorce to keep your finances separate. Furthermore, you should draw new boundaries during a divorce to safeguard your money and yourself.
You need to set up your own checking and savings accounts and redirect your paychecks there as soon as possible. Make sure to start investing a portion of your income as well as setting up your personal retirement account as soon as possible. As an added bonus, if you decide to stay in the house, the utilities, digital subscriptions, and other bills must also be in your name.
When you prepare your finances, keep these two things in mind:
- Emergency Fund: Having an emergency fund will benefit you greatly if you divorce or separate from your spouse. You will be protected from all the unforeseeable circumstances that will disrupt your financial stability during divorce by your emergency fund. Make your spending the bare minimum so you can afford the expenses divorce brings.
- Establish a Monthly Budget: Money might discourage you. Once the divorce process has ended, remember that you can live a debt-free life and achieve your financial goals. The monthly budget will help you set healthy spending limits so you can achieve your financial goals. The budget keeps you motivated to reach those financial goals.
4) Plan Your Parenting In The Case Of A Child
A divorced couple has a lot to consider, but here is a well-thought-out plan to get them started.
Make a plan to learn about the child custody laws in Ontario and draft a proposed custody agreement, including each parent’s visitation schedules with the children and holiday schedules. Keep a calendar where your children can see how much time they spend with each parent. Include issues or expenses you’ve paid that relate to communication, transportation, or cancellation appointments. Consider whether paying or receiving child support will be necessary after the divorce. If your spouse refuses to pay child support during the divorce, you can ask the court for a temporary support order when you file your petition or response.
5) Think About Hiring an Attorney
Although it is not necessary to hire a lawyer, it is highly recommended that you hire a divorce lawyer in Ontario who has extensive experience in providing you with the best legal services. To prevent any conflict during the divorce process, it is also advised that both parties hire separate lawyers. It is true that hiring an attorney will increase your divorce costs at first, but it will also save you stress, and recurring costs and protect your rights after the divorce process.
Prepare Ontario Divorce Checklist With Hussain Law
Divorce can be emotionally and financially draining and extremely unpredictable. Prepare for any circumstances during a divorce with the right lawyer who can provide you with family law solutions tailored to you.
At Hussain Law, we focus on helping our clients navigate the emotional and financial challenges of separation and divorce. Our office remains fully operational, and we have implemented various new procedures that allow us to continue to advise clients seamlessly during this time.
If you have a family law issue or want to prepare for divorce that you need assistance with, please contact Ayesha Hussain a divorce lawyer in Toronto at 647-428-3919.
by Janita Pannu | Dec 13, 2021 | Uncategorised
During this holiday season, you may be feeling emotionally bruised and frightened if you recently divorced or are in the middle of divorce proceedings. You might be feeling loneliness, self-doubt, judgment, and regret over not celebrating the holidays with your children and former family members.
There are arguments waiting to happen in every conversation, and the pandemic adds even more pressure to relationships that are still intact.
Regardless of the time of year, divorce is an emotional and life-altering event. In addition to the cold weather, fewer daylight hours and more clouds will force families to spend more time together rather than shuffling children from one parent to the next.
In order to be prepared for Christmas, these tips will help you survive the holidays during family law proceedings.
1) Be patient
The holidays can even be stressful at the best of times. Nevertheless, when it’s your first time celebrating the holiday season on your own, it can be hectic. The holidays can seem overwhelming for the first time! When going through a divorce, there are so many things going on emotionally that the added tasks, events, and schedules of the holidays may seem too much.
While you are navigating the holiday season, be patient with yourself, your kids, and your other family members. Your very first holidays after a separation or divorce are likely to be very different for you, and a little patience will go a long way toward making them more enjoyable than you might imagine at this point.
2) Establish Boundaries
In order to maintain your emotional and relational health, setting boundaries is always important. It is nevertheless absolutely essential to do so around the holidays if you wish to survive the holidays intact.
Start by letting friends, family, and even your ex (if you’re still in touch) know what your preferences are. Would you prefer to avoid certain gatherings? Would there be any topics at the dinner table you prefer not to discuss? Make sure you communicate boundaries in advance. As a result, your friends and family will be more understanding of your needs at this time.
3) Create New Traditions
The holidays are a time for celebration, usually in fairly repetitive and similar ways. While facing difficult times, some of these traditions can be comforting. At the same time, they may serve as painful reminders of your divorce. To avoid this, you may want to make some new traditions.
For Example, You might plan a social gathering with friends, cook a special holiday meal, or visit a family you haven’t seen in a long time because you have traditionally visited your in-laws.
4) Volunteer
Taking your mind off your own problems through giving and helping others has been proven time and again. Post-divorce holiday stress can be temporarily relieved by this temporary medication.
Research local volunteer opportunities if you aren’t already connected to an organization in need of help during the holiday season. Furthermore, you can also search for opportunities in your church, synagogue, or community center. Be sure to plan ahead if your organization requires you to register or go through an orientation beforehand. Feel free to bring a friend, bring your children, or serve on your own.
5) New Year: New Life
We are just a few weeks away from a new year. Take action to start the new year off right. Embrace new opportunities. Try something new. Keep moving forward! Empowerment and positive change are taken by small, actionable steps.
All things pass. The holidays will be over soon. You will survive the holidays during divorce. Ultimately, it’s how you deal with the holidays that will determine your happiness. What makes the greatest difference in your life is how you handle life’s challenges.
At Hussain Law, we focus on helping our clients navigate the emotional and financial challenges of separation and divorce. Our office remains fully operational, and we have implemented various new procedures that allow us to continue to advise clients seamlessly during this time. If you have a family law issue that you need assistance with, please contact Ayesha Hussain at 647-428-3919.
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