What happens to my credit score if I get married?
I'm in my late 20's and my soon to be husband is in his early thirties. I have credit card debt, but I'm working on it. I have a couple bank accounts. I also have a really good credit score. My soon to be husband filed for bankruptcy a couple years ago after he got divorced to avoid paying for bills his wife wasn't paying. He doesn't have a credit card. He does have a bank account. I have no idea what his credit score is. Will my credit score be affected when we get married? Should we share a bank account when we get married? Note: His wife bought things and then didn't pay for the bills for them. They were items she bought and used when they were separated. He didn't see or use them. When she didn't pay for them the creditors came after her. She claimed she wasn't working and then they came after him after they were divorced. He was advised to file bankruptcy so the creditors would stop going after him.
Public Comments
- it should bear no postive or negative affect on you or your husband they are seperate.
- Your credit score should only be affected if you change your last name to his. The bank account is up to you. Do you trust him enough?
- ur credit score will remain the same bc its based off ur social sec. # which doesnt change when married. however, since he filed for bankruptcy u will prob have to put everything in ur name and if he doesnt help pay then ur credit slowly goes down drain. separate bank accounts (for personal use) and one joint account (for bills, household, etc) would prob be best idea
- If the debt happened prior to your getting married, then the debt is not considered yours. Any debt after you get married will be shared. You can share a bank account, it does not affect your credit unless you bounce a check and do not pay the company, then the company can take action.
- Only if you start doing things jointly.
- No, you need to keep your credit separate from his. It will affect your credit rating to have him on your accounts.Bankruptcy is the worst thing that can happen to your credit rating, but you already know that. The credit card companies may decide to increase your interest rates also if you add him on your cards.They will also ask for his Social Sercurity number so they will know his credit rating as they will check. It also is a liability to have him on your bank account as well. You should talk with someone at the bank and the credit card companies, before you do anything to make sure this does not affect you adversely.
- no - only the joint credit you have or will have together will affect your score.
- Your credit score should not be affected by his credit, but it could be if you take out joint accounts. Since his credit is bad, have a single bank account in your name only. You can they pay all the household bills. Also, pay and get his credit score. It's worth knowing what it is. You are entitled to a free credit report. annualcreditreport.com I think is the site to get his free annual credit report.
- Doesn't matter what your last name is ... your SSN determines your credit status. Just DON'T sign any loans for him until you've been married a while.
- Never mind the credit score - are you sure you want to marry someone who would rather put himself into bankruptcy than face his financial responsibilities? NEVER share a bank account with someone who's been a bankrupt!
- You are allowed to have credit and do business in your own name, weather you are married or single. Just do not put his info on any credit applications, and your rating will not change. Bank account--it's a personal matter, and you can decide to do anything you want. If it were me, I'd keep my personal accounts and open a joint account for household expenses and budget items right after marriage, and BOTH of you contribute according to a pre-agreed-on policy. Remember, love is given freely, and trust is earned. As your trust and comfort in the situation increases, so can your blending of assets. Any really good man will go for this and be patient with your feelings and concerns. If proposing this to him causes problems, WATCH OUT!
- I would make sure your financial situations were straightened out before you think about getting married. You two need to get his FREE credit report from http://www.annualcreditreport.com/. From there you need to take a look at all of his debt. Is he being honest with you? Are his spending habits within his means? I would oppose opening any joint accounts together, as of yet.
- The one thing I wanted to point out that others didn't is that this WILL affect your ability to do business as a couple - i.e. getting a mortgage in both of your names.
- Nothing When I married my wife she had and still has 12000 dollars in unpaid debt. Her creditors can't touch me because none of it is in my name and none of my property is in her name
