No, not if the accounts are separate. Married couples credit ratings are only affected equally when the account is held jointly.
No, if the wife is not an authorized user on the credit card then it does not affect the wife's credit report. So the late payment will only be on the husband credit report.
Hello, Jamison here, YUP!!!!!!!!!!!!!!! Her bad credit is your BAD credit!!!!11111
do you live in a community property state? if so anything a spouse does will affect the other.
Generally, late payments over 30 days late are reported to a credit reporting agency. After that, late mortgage payments can become "missed" mortgage payments. And missed payments can affect your credit score in a negative way. However, your exact late payment will depend on how your specific mortgage lender reports payments to the credit bureaus.
Yes, they will both reduce your credit score and impact future payments on that card (e.g. increased interest rate, late fee charges).
No, if the wife is not an authorized user on the credit card then it does not affect the wife's credit report. So the late payment will only be on the husband credit report.
Hello, Jamison here, YUP!!!!!!!!!!!!!!! Her bad credit is your BAD credit!!!!11111
Yes. Bill payments can affect your credit score.
do you live in a community property state? if so anything a spouse does will affect the other.
I hate to sound like a lawyer, but it depends. If you have separate credit reporting accounts, it may affect the wife's credit slightly. If there is only a joint credit account, yes, it will affect the wife's credit the same as the husband's. You can ask the 3 major credit reporting agencies (Experian, TransUnion and Equifax) to separate out your credit histories. If the foreclosure has already started, it may be too late. Get a free credit report from each (once each year) at www.annualcreditreport.com.
Generally, late payments over 30 days late are reported to a credit reporting agency. After that, late mortgage payments can become "missed" mortgage payments. And missed payments can affect your credit score in a negative way. However, your exact late payment will depend on how your specific mortgage lender reports payments to the credit bureaus.
just the same as any finance contract will make the payments=good dont make the payments=bad
Yes, they will both reduce your credit score and impact future payments on that card (e.g. increased interest rate, late fee charges).
The wife is responsible as she was the one who signed the credit contract.
Unless you separate your credit reports, or keep them separate, you will get the credit score of your husband. Your joint income will be affected by his having to make the plan payments, and the Chapter 13 Trustee may want to know how much your income contributes to his expenses (if you now share utility costs, for example), although that is not likely.
Yes, it will shorten the time in which the mortgage is on your credit report.
Not if you are responsible for all of the loans or credit card payments on your credit report. But, if the second card holder is responsible for any payments on your cards, and doesn't make them, then it can cause your score to lower.