There is no question that divorce is a stressful time in anyone’s life – the emotional turmoil, the upheaval, and the division of properties, accounts and assets can leave anyone feeling drained and disillusioned. During this trying time, your credit score may be the last thing on your mind, but the truth of the matter is that without proactive negotiations during the divorce settlement period, your credit score could take a big hit.

Marriage generally brings with it the mingling of finances. Joint checking accounts, savings accounts, and credit cards are not uncommon. And while most people work to try to divide their assets, some forget the equally important step of dividing up the debts. Unfortunately, joint account liability is not dissolved along with the marriage. Any debt that you’ve accrued as a couple remains the responsibility of both parties, even if a separate payment agreement was reached.

What does this mean? In its most extreme terms, it means that you can be responsible for purchases your ex-spouse makes on a joint account, and vice versa. This is true even if the purchase occurs after the divorce is finalized. For this reason, it is essential to get all the jointly-held debts in order, and either close the accounts, or put a freeze on any new spending so that one ex cannot take advantage of the other.

If one spouse has no separate payment history on his or her credit report, a divorce can cause that person’s credit score to drop dramatically. It’s important to take measures to secure individualized credit as well as joint credit in order to make certain that your credit history is strong, regardless of what happens in the future. Unfortunately, this often happens too late, and the spouse with the least amount of credit history usually has to seek help from credit repair specialists in order to get his or her credit score back to a reasonable level.

Still, there are some things you can do during the divorce process that will minimize the potential for detrimental effects, assuming that you and your ex-spouse are able to work together for your mutual benefit. The first step, if possible, should be establishing at least one or two lines of credit in each individual’s name, while any joint accounts in good standing can benefit each individual. After this, the second step should be closing all joint accounts – this includes credit cards, checking and savings accounts, dividing up the assets and debts fairly. Use some of the cash you receive to pay down your portion of the shared debt and then use the rest to open a checking or savings account in your own name.

While nothing can truly make the divorce process easier, by paying careful attention to your credit and credit score throughout the process, you can prevent some of the more common pitfalls facing couples who are in the process of getting a divorce. With attention to detail, and a willingness to compromise, both parties can come out of the process with minimal damage to their credit scores.