2007-07-30 18:02:09 · 12 answers · asked by Bad Girl 1 in Business & Finance ➔ Personal Finance
This is a very common concern among people that are about to get married. The answer is no. Those items were initiated in only your name, and is not "common" to both you and your fiance. After you get married, any debt that you and your husband initiate will be "common debt", and it very well may affect you and your husband's credit history. If you divorce (and I'm not saying that you will), divorce attorneys and the divorce court will help to allocate the common debt.
In marriages, it is very common for one person to have poor credit (but high income), and the other person to have good credit (but low income). This is a dilemma when applying for a mortgage, since income affects the mortgage amount available, but the credit score affects the interest rate. If you and your fiance plan to get a mortgage after marriage, then see about actually getting the mortgage before marriage (in one person's name). You may very well find this option to be a good solution for your situation.
2007-07-31 08:30:06 · answer #1 · answered by TopDog 2 · 1⤊ 0⤋
You will become legally responsible for his past accounts in collections, should he perish, it is then your SOLE responsiblity as you were married to him, regardless of whether it happened before you were married, when it comes to dying, and settling up his accounts, you will have the responsiblity to pay those debts through his estate.
Not saying that he is going to die however, you should be advised that IF you marry him, the first time you apply for JOINT credit, his information will be on YOUR credit report as well and the bad credit will 'bleed' onto your credit report and may stay there for years to come. Though it will be listed as an individual account and not a joint account, if your credit is good I would advise against ever letting your credit be pulled with his.
2007-07-30 18:12:02 · answer #2 · answered by emeraldseye 4 · 0⤊ 1⤋
You should not be responsible for his past accounts in collections but his credit rating will become attached to yours If your credit is good and his is bad yours will drop down and this will follow you for the rest of your life. If you love him and want to marry him I suggest you wait till he fixes his credit problems first or as I say you will be risking your credit as soon as you say I Do
2007-07-30 18:09:42 · answer #3 · answered by lynx 3 · 3⤊ 0⤋
whether they're married have him shop stuff seperate and his credit would be nice. the actual capture comes with procuring a house. If it demands the two to sign, activity cost would be intense through her credit yet no longer influence his credit till they have previous due will pay. by the form, call the sequence corporation and make an grant (low). you would be shocked how briskly they're going to bounce on any grant (GET IT IN WRITING!) whether that's previous debt and that they do no longer plan on getting something besides. maximum cases they're going to take pennies on the money. as quickly as achieved, you will could desire to push very no longer ordinary to get there cooperation in getting it removed from the comments. additionally, ninety 9.9% of medical expenses are in no way considered for considerable style purchases. this is no longer considered for automobiles, residences, and different considerable purchases.
2016-10-08 21:21:27 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Your credit will be affected by his credit, yes. If the accounts are in his name only you shouldnt be affected by collection agency's. But each state differs, so I'm not entirely sure on that. Call a lawyer and inquire.
2007-07-30 18:10:04 · answer #5 · answered by Amanda S 4 · 0⤊ 0⤋
Yes, you will indeed become responsible for the debts. His credit will become your credit, and if he doesn't pay his debts, they will come after you for payment. By the way, it doesn't matter which state you live in. Once you marry, you both are responsible.
2007-07-30 18:25:27 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Not unless you mix your accounts. I personally would think more than twice about marriage since it will be a hard life. You may not be able to get a house or meet other financial goals. It is very nice of you to marry him, I hope he knows how lucky he is.
2007-07-30 18:05:52 · answer #7 · answered by shipwreck 7 · 1⤊ 0⤋
why would you marry a person with poor credit?
financial issues are a main cause of divorice. That and leaving the toilet seat up.
you should just go get yourself a nice prison guy
2007-07-30 18:10:43 · answer #8 · answered by Prison Mike 2 · 0⤊ 0⤋
That depends upon the types of debt and
the law of you state or province.
For instance, if he owes any back child support and/or back taxes to the I.R.S.
You may need to keep all of your assets,
bank accounts, utility bills, etc., separate
until his financial woes have been rectified.
2007-07-30 18:18:11 · answer #9 · answered by sylvester m 5 · 1⤊ 0⤋
No. If your name is not included in the original documention for whatever or whomever the debt is owed, you are not legally responsible.
2007-07-30 18:06:53 · answer #10 · answered by salvation32802 2 · 2⤊ 0⤋