Credit and Marriage

Scott,
I was 36 when I married. I have excellent credit. However, the man I married went through a messy divorce and his credit is moderate at best. If I apply for credit, such as a new car, am I obligated to list my husband's debts or can I still obtain credit in my own name?
--Vicky


Vicky,

Thanks for writing!

When you got married you also married his credit. For better or worse. But that doesn't mean that it has to entirely affect your credit.

If you apply for that new car, you won't have to list any of his information unless the cars is going to be in his name as well. If it's your car, and you're doing the financing, then they should only be researching your credit background.

The only problems that can arise are from any joint accounts. These accounts will show up in your credit report. But if these accounts are being paid on time, then you should have no problems.

As long as his credit problems don't have your name attached to them, you should be okay.

Have you taken a look at your credit report lately? If not then take a look at both reports (you and your husbands). I like to use MyFico.com. You can look at all three credit reports and the overall scores. By checking your credit report, in advance, you'll know exactly what to expect when applying for financing.

Good luck and please let me know what happens!

Regards,
Scott



More Finance Articles
 

California Tax Lawyer and Attorney Resources

A resource on California Tax Lawyers who specialize in Tax law for your unique legal needs ...


Credit and Marriage

Scott Bilker is the author of the best-selling books, "Talk Your Way Out of Credit Card Debt", "Credit Card and Debt Management", and "How to be more ...


Credit Card Debt Consolidation

Credit card debt consolidation can help an estimated 60%+ of Americans get out of their credit card debt. If you have credit card debt spread out across severa ...


In the Market for a Mortgage? Choosing the Right Option can Save You Thousands

This is one of the most confusing times in recent history for Canadians looking to acquire, renew or refinance a mortgage. ...


Insuring Your Finances with Gold

You have insurance on your life, your home and your car, but do you have insurance on the one possession that may have the greatest long-term effect on you and ...


No Estate Taxes Doesn’t Mean No Estate Planning

Recent changes in tax laws have given many Americans greater assurance that their assets will go to their loved ones and not the government. While an estate may ...


Payoff and Close Accounts?

Scott Bilker is the author of the best-selling books, "Talk Your Way Out of Credit Card Debt", "Credit Card and Debt Management", and "How to be more ...


Pre Settlement Funding & Attorneys

Find out information on Pre Settlement Funding & Attorneys. ...


Tips for Driving A Great Deal on Your Next Auto Loan

Americans’ love affair with the car remains undiminished and sales are on track to continue strong in 2004, with approximately 60 million new and used vehicle s ...


Trade Show Exhibits

Trade shows can provide one of the best opportunities for you to network your business and stay 'in the know' about new market trends. The article below shows ...


When Do I Need Pre Settlement Funding?

Find out if you need Pre Settlement Funding. ...



     


Home | Categories | Newsletter | Search | Terms | About | Contact
Website Design and Marketing by Jump Start Marketing