I live in Texas which is a community property state. I have good credit, but my husband has horrible credit. Because of this I have made sure that all of our credit/loan accounts are in our individual names. The only thing that is in both of our names is the house note, but that is about to be in my name solely. What would happen if we divorced? How would that affect my credit? Does divorce show up on your credit report and if so does it show up as a negative thing?
2007-06-08 02:53:37 · 2 answers · asked by Texas Girl 3 in Business & Finance ➔ Credit
Divorce does not show up on your credit report at all. That said, anything that is unpaid and is in BOTH of your names does. So if you have kept all your accounts separate from your husband, then divorce will have no impact on your credit unless the costs of divorce cause you to be unable to keep up on your payments. This is a real possibility, though, so be careful!
2007-06-08 03:02:53 · answer #1 · answered by Mr. Taco 7 · 0⤊ 0⤋
Ok, It all depends. If he had the bad credit before he married you he will take it with him. Regardless of who's name its under its still community property unless he signs off that he will take his, and you will take yours. Divorce doesn't show up on your credit report, unless a loan is opened in both of your names and he doesn't pay on it even if he says in the divorce papers he will. The only time that the 50/50 rule doesn't apply is when you bought or had something before you got married.
2007-06-08 03:00:40 · answer #2 · answered by Motheroflittlemen 2 · 0⤊ 0⤋