Have you come to the conclusion that divorce is the only way to solve your marital problems? While this is a big decision that will affect your life in many ways, it’s important to take as much time as necessary to get your finances in order.

If possible, it makes sense to eliminate credit card debt before the divorce process begins. The best way of doing so is to use joint funds, such as from a savings account, to pay off the debt.

If that’s not an option, the next best thing is to evenly divide the debt. A balance transfer credit card makes this easy.

For example, if you have $20,000 of joint credit card debt, both you and your soon to be ex-spouse can use a balance transfer to take on $10,000 each.

At that point, you’re solely responsible for managing the debt. You no longer have to concern yourself with what the other person thinks or how they spend their money.

If you’re interested in using a balance transfer credit card in preparation of divorce, here are some key steps to take:

  • Calculate exactly how much joint credit card debt you have
  • Make sure your spouse is on the same page in regards to splitting the debt
  • Take action as soon as possible, as you don’t want your spouse to continue using joint credit cards for their gain
  • Compare balance transfer credit card offers, focusing primarily on the length of the zero percent introductory rate

By taking these steps, you have the opportunity to regain control of your credit card debt. It’s not the ideal situation, but it’s best to take full control of your finances at this time.

If divorce is on the horizon, review your credit card debt to determine if a balance transfer offer makes sense. You may find that it’s just what you need to take a step in the right direction.  

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