Divorce can negatively affect people in Louisiana financially, and a study that appeared in "Sociological Science" found that it can hurt some children's access to education as well. This is often related to the reason for the divorce itself, a father's lack of employment or underemployment. Some data indicates that men who are not in a breadwinning role are more vulnerable to divorce.
Financial repercussions of divorce
Steps to take when buying the home in a divorce
Some Louisiana homeowners who are getting a divorce might want to buy out a spouse and keep the home. The first step in this process is getting the house appraised to determine how much equity is in it. This can be done most accurately with an appraiser, but it can be expensive. Some couples may opt for a broker price opinion or a comparative market analysis, both of which can cost less and can be performed by a real estate broker.
Damage to a credit score may be one of the pains of divorce
For most, divorce is an emotionally painful experience. However, it can be just as financially painful over the long term. A hidden pain that many ex-spouses suffer is a lower credit rating. Those in Louisiana going through a divorce should take steps to prevent this from occurring.
