When a couple gets married I know their credit is together but does the prior "bad credit go against the other

Question

person once you get married. The reason I ask is before my fiance made some mistakes and now he owes alot on a car, I just wanted to know if I automatically become financially responsible?

Answer 1

It doesn't become your responsiblity per se, but if you go to buy a house or another car, your credit will be pulled with his and will have to be addressed before you purchase anything new. Which might mean a higher interest rate or rejection outright, depending how much he owns. Best thing to do would be to get a copy of both of your credit reports and take a look.

Answer 2

The only way that you become financially responsible for it is if you were getting a divorce, then the car loan becomes marital debt no matter whose name the loans are under. Until then, it is HIS responsibility, unless he defaults on it then they can come after JOINT accounts.

Your credit is YOUR credit. His is HIS. But as far as the debt is concerned, ONLY the name on the paperwork owes the debt to the creditor, but under MARITAL LAW (I have a HUGE problem with this) the debt becomes BOTH of yours.

This is the reason that I have not filed for divorce yet. My husband ran up tens of thousands of dollars on credit cards and loans that my children and I never benefitted from because of his drug addiction. I do not want to be stuck paying for his cocaine and his whore.

Answer 3

Actually, your credit will not be combined unless/until you jointly apply for credit. Say you buy a car with both names on the loan or a home for example.

So it's not automatic. Besides, you each still have your own files in the credit bureaus. It's just when you have joint accounts, the payment histories on them appear in both of your credit files.

Regarding his car loan. In most states, you will not be responsible. Any debts he brings into the marriage are still his and only his. If you trade his car for one you jointly finance, then you will inherit any negative equity rolled into the new car payment.

I would recommend that you both come to a plan on how you are going to handle money. Differences in handling money was one of the things that destroyed my marriage.

I wish you both all the best of luck.

Answer 4

You do NOT. Your credit is always YOUR credit. Even while married you can apply and receive loans in your name only. If your credit and income is good enough to get a car or home loan then just put the stuff in your name.

There are many ways to geta copy of your credit report. What you get back will NEVER include debts of others, even those you are or have been married to unless you signed as responsible party.

Answer 5

No, you are not responsible what he has done prior to your marriage. I have been married for three years now This is not my first marriage my first husband ruined my credit. So this time we have everything separate. I don't want to use his credit. Why? because if anything should happen I want to be able to pay my bills.

Answer 6

He will still be the one that is financially responsible, but your credit will go down the tubes.

Answer 7

Unfortunately yes, I saw this with my daughter. Her husband had horrible credit, and when you take on a husband you also take on bad credit as a household. Sorry to say.

Answer 8

That's a good question, i've been wondering that myself. I would think that it's a combined kinda thing, but i had a recent experience that has made me wonder. Hopefully a lawyer or tax person will answer you and we will both know! LOL

Answer 9

Yes, unless you plan on borrowing on your own without him on the loan. But your credit also can be beneficial to him when you get a joint loan.

Answer 10

You do not become financially liable for your husband's sole debts, but your association with him may hinder your ability to obtain credit for yourself.