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When you marry, you become ONE, therefore what's his/hers is yours and what's yours is his/hers. That includes a bad credit report. On the brighter side, bad credit can be corrected (usually within 7 years your record is wiped clean if you maintain accounts). Good luck.
The first answer is incorrect. Each person with a Social Security number can establish credit in his or her name. State law governs whether one spouse can be held accountable for debts the other spouse incurred while married. (Community property / community debt states. Debts before the marriage are not factored in. Your bad credit doesn't affect your spouse at all--unless you co-sign on loans or co-apply.
Kyla is correct - your credit can NOT be affected by a spouse's credit unless you have co-signed a loan, open a joint account, file for a joint bankruptcy, or a tax lien is placed on a joint tax return.
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How is your credit affected if you marry someone with bad credit?
Badly
If someone with great credit co signs for some with bad credit does it help the person with bad credit?
The person with bad credit pays back the loan that the good credit helped him with in good payment statis. Have payment met on time or a little early will help the person with bad credit. The person with good credit is very generous with his credit. If the bad credit person does not pay on time or falters the loan. the Good credit person will have a problem . Not the bad credit person. Helping someone get back on their feet is a good thing. Make sure that your Good credit is not in jepordy.
What happens if you post wrong answers on WikiAnswers?
nothing super bad happens, but wrong answers are more prone to being changed, which means that the last person who edited the answer will get credit instead of the person who last wrote it.
What credit cards can be applied for with bad credit?
Having bad credit a person limits themselves greatly on what credit cards they can have. The only card offered to people with bad credit is the Premier Bank MasterCard.
If you marry someone with bad credit does is mean you would also have bad credit as well?
Not necessarily. However, if you enter into a joint financial transaction such as a mortgage, it may have a negative impact.
Where can a person with bad credit shop for automobile loans?
A person with bad credit can shop for automobile loans on the Road Loans website. Another good place to get automobile loans with bad credit is the JD Byrider website.
What happens to your credit on a short sale?
A short sale will have a detrimental affect on your credit record but not as bad as a foreclosure.
Does marrying a person with bad credit make your credit bad as well?
If you are concerned about your credit score enough to challenge your marriage, you probably shouldn't get married.
Can a person with very good credit be affected by a person with bad credit on a car loan?
geeze don't be stupid
Can a co-signer help get a person with bad credit get the same rate that a person with excellent credit gets?
Not likely.
What happens if you give the car back to the dealership?
you get a bad record on your credit
Where can a person with bad credit obtain credit cards?
A person with bad credit can still obtain credit cards in some cases. However, they'll have to settle for secured cards from companies like Capital One and Bank of America.
