A decision to divorce means that both parties have to try to untangle every aspect of their life. This includes the finances. While it might seem simple enough to do, it can actually be a complex undertaking.

There are several things that you should consider if you and your spouse have accounts together. Taking proactive steps to protect your credit is important as you embark on this new chapter of your life.

What if your spouse goes on a spending spree?

Some people will try to hurt their spouse by running up the balances on joint credit accounts. Because of this, it's usually best to close those accounts or freeze them so that nothing else can be charged to them. Sometimes, creditors won't do this unless you transfer the balance into an account that's in your name only. You should be careful with that option since there are serious ramifications that come with it.

Remember that creditors might not follow your divorce order

A divorce decree, including the property division agreement, is a civil matter between the two parties. Even though the court may outline who should pay what, the creditors involved may still hold both parties accountable because the creditors weren't part of the case. This could mean that your ex can ruin your credit by not paying their share of the bills.

If you're going through divorce, remember that property division includes splitting up assets and debts that were incurred during the marriage. There are many ways to handle this, so you should learn about various options so you can decide what's best for you. It's best to have legal guidance before taking any steps that could also affect your spouse.