Reclaiming freedom: How credit repair empowers domestic violence survivors

When you think about domestic violence, financial abuse isn’t the first thing that comes to mind, however, it’s a very real and damaging form of control that survivors face. Domestic violence often goes beyond physical and emotional abuse, creating financial traps that make it hard for individuals to break free. 

What is coerced debt? 

Coerced debt is when an abuser takes out loans, opens credit cards, or racks up other debts in their victim’s name, often without their consent or by using intimidation. This leaves survivors not only with emotional scars but also with serious financial problems.

Credit repair can make a big difference in the lives of survivors, helping them to rebuild their lives and regain financial independence. At Fix My Credit, we work closely with domestic violence survivors to repair credit and help tackle issues caused by coerced debt. Our goal is to support their journey to financial freedom with compassion and expertise.

More about coerced debt

Coerced debt occurs when an abuser takes control of the victim’s financial life by creating debt in their name. This can happen in different ways:

• Unauthorised credit accounts: Abusers might open credit cards or loans in their partner’s name without telling them.
• Pressured or threatened signatures: Survivors may feel forced to sign loans or contracts that they cannot afford because of intimidation or threats.
• Misuse of joint accounts: In cases where both parties have access, an abuser might drain funds or fail to make payments, damaging the survivor’s credit.

This kind of financial control traps victims in a difficult position. Not only is their financial stability ruined, but their ability to access housing, jobs, and basic necessities is limited, even after they escape the abusive relationship.

The impact of financial abuse on credit

Poor credit scores can create significant challenges for survivors, making it tough to rebuild and become self-sufficient. Here are some of the ways coerced debt impacts them:

• Difficulty renting a home: Many landlords and housing programs look at credit scores during the application process, so a low score can limit housing options.
• Employment barriers: For certain positions, especially those involving finance, employers may run credit checks. This can limit job opportunities for survivors needing financial stability.
• Access to loans and credit: Survivors may find it difficult to qualify for loans or even credit cards to help them restart, especially if their credit score has taken a major hit from coerced debt.

How Fix My Credit supports domestic violence survivors

At Fix My Credit, we understand the unique challenges that come with escaping financial abuse. Our team is here to help survivors get their finances back on track by providing specialised credit repair services. 

Here’s how we help:

1. Credit report review: Our experts will review your credit report carefully, looking for any accounts or debts that may be tied to coerced debt or abuse-related financial problems.
2. Disputing unauthorised debts: Once we identify any coerced debt, we can work to remove it from your credit report by disputing these entries with credit bureaus. 
3. Communicating with creditors: Sometimes, creditors may be understanding when they learn about the abuse. We work to communicate with creditors on your behalf to discuss potential adjustments, such as lowering interest rates or removing unauthorised debt from your record.

Why choose Fix My Credit?

We’re dedicated to helping domestic violence survivors regain financial freedom and independence. We know the emotional toll of financial abuse, and our compassionate team is here to make the credit repair process as supportive as possible. Fix My Credit aims to empower survivors to overcome coerced debt, rebuild their financial foundation, and take control of their lives.

Credit repair is one piece of the puzzle that can help survivors rebuild their lives and move forward with confidence. Fix My Credit is proud to stand by domestic violence survivors, helping them take the first steps toward a secure and independent future.

If you or someone you know is struggling with coerced debt or other financial issues tied to domestic violence, reach out to Fix My Credit. We’re here to help you make a fresh start and regain the financial freedom you deserve.