Does it affect the other person too once they are married?
2007-12-17 09:06:02 · 4 answers · asked by £acy 5 in Business & Finance ➔ Personal Finance
The best way to handle the situation, is for the married couple to keep their finances apart. And, yes, once married, you are both responsible for debt, but only debt incurred during the marriage. You do not "get" good credit by marrying someone with "good" credit.
I have kept my finances apart for the last 30 years and have to say one thing about it. We do not have the"money fights" or "money issues" other couples have...
2007-12-17 09:50:15 · answer #1 · answered by educated guess 5 · 1⤊ 0⤋
You are not responsible for your future spouse's bad credit or debt, unless you choose to take it on by getting a loan together to pay off the debt. However, your future spouse's credit problems can prevent you from getting credit as a couple after you're married. Even if you've had spotless credit, you may be turned down for credit cards or loans that you apply for together if your spouse has had serious problems.
2007-12-17 17:09:28 · answer #2 · answered by GSConsulting 2 · 2⤊ 0⤋
The one with bad credit is improved, since both are legally responsible for all debts when married.
Been there, done that. She's on top of the world now, since divorce.
2007-12-17 17:12:14 · answer #3 · answered by ed 7 · 0⤊ 0⤋
yes, it does.
2007-12-17 17:13:09 · answer #4 · answered by Daisy 3 · 0⤊ 0⤋