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Will a spouse's bad credit affect your credit in a community property state?
Wiki User
∙ 17y ago
Yes. If you are married and your spouse has bad credit, you inherit that bad credit and depending on the state, you can inherit half the debt if you divorce. * No, debts incurred before marriage do not affect a new spouse's credit report even in CP states. Problems could arise however, if the couple apply for a joint line of credit such as a mortgage.
Wiki User
∙ 17y ago
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If my wife applies for a credit card will it affect your credit score?
No, it won't affect my score, she's not my wife. Just kidding. Credit may be obtained individually (even in community property states) by law. Therefore your spouse can apply without you, meaning that your information and your social security number (by which you would be reported to the credit agencies) are nowhere on the application and you will not sign the agreement. If this is how she applies, it will not affect your score.
If your husband buys a house without you signing the papers will your credit still be affected in the event of late payments?
do you live in a community property state? if so anything a spouse does will affect the other.
Who is responsible if credit cards are in a wife's name only?
If you are in a "community property" state, you both are.
After divorce are you liable for credit card debt in your wife's name only incurred while married?
In a community property state both spouses are equally responsible for debts. The rest of the states consider only the account holder responsible. A few states have laws referring to debts that are considered necessities being chargeable to both spouses. These laws are vague and seldom enforceable, creditors sometimes cite them in an attempt to get the non-debtor spouses to pay.
In Arizona are you responsible for your husband's credit card debt if you are not on the accounts?
Arizona is a community property state, in general all assets and debts belong to both spouses. It is possible to use the innocent spouse defense if it can be proved that the person did not have any connection whatsoever to the debt(s). If a spouse used even one credit card, they will probabaly be held liable for all the debts.
Is an authorized user on a credit card liable?
Not to the credit card issuer. The account holder is totally responsible for debt incurred on a credit card. The exception is married couples residing in community property states, where both spouses are considered have the same rights to property and assets and the same responsiblity for debts.
If the house is in your spouses name but you are on the deed can it boost your credit score?
Nope. The lender (mortgage company) is the entity that reports information to the credit agencies, so if your name is not on the loan documents the home will not affect your credit. Being on the deed gives you rights to the property but is not a credit trade line.
If my wife applies for a credit card will it affect your credit score?
No, it won't affect my score, she's not my wife. Just kidding. Credit may be obtained individually (even in community property states) by law. Therefore your spouse can apply without you, meaning that your information and your social security number (by which you would be reported to the credit agencies) are nowhere on the application and you will not sign the agreement. If this is how she applies, it will not affect your score.
Does executors credit affect sale of decendents house?
The credit of the executor has no bearing on the credit of the estate. It is not his property in question.
In California if the spouse dies and have a credit card in his name and not mine am i responsible for his bills.?
It depends on if California is a community property state or non-community property state.
If your husband buys a house without you signing the papers will your credit still be affected in the event of late payments?
do you live in a community property state? if so anything a spouse does will affect the other.
Who is responsible if credit cards are in a wife's name only?
If you are in a "community property" state, you both are.
After divorce are you liable for credit card debt in your wife's name only incurred while married?
In a community property state both spouses are equally responsible for debts. The rest of the states consider only the account holder responsible. A few states have laws referring to debts that are considered necessities being chargeable to both spouses. These laws are vague and seldom enforceable, creditors sometimes cite them in an attempt to get the non-debtor spouses to pay.
In Arizona are you responsible for your husband's credit card debt if you are not on the accounts?
Arizona is a community property state, in general all assets and debts belong to both spouses. It is possible to use the innocent spouse defense if it can be proved that the person did not have any connection whatsoever to the debt(s). If a spouse used even one credit card, they will probabaly be held liable for all the debts.
Can creditors go after an ex-spouse if his or her name is not on a credit or mortgage account?
In non-community property states, creditors can only go after the person(s) who signed on the account to be responsible. So, normally creditors may NOT go after ex-spouses (or even current spouses) for debts which belong exclusively to the other spouse. However, this may not be true in community property states (I don't know a whole lot about community property state law). Fortunately, there aren't very many community property states. The community property states/territories are: Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Puerto Rico, Texas, Washington, and Wisconsin. However, even in non-community property states, there may be ways around the general rule that creditors cannot pursue spouses. For example, many states have fraudulent conveyance statutes, that say that if a person who owes money conveys property to another person for the purpose of protecting that property from creditors, the creditor may still be able to go after the property, and potentially even the person who received the property, for collection purposes. So, while creditors in non-community property states cannot pursue an ex-spouse, they may have some recourse if the person who is liable on the account transferred real estate or other property to the ex-spouse for the purpose of shielding that property from creditors. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person.
If you were an authorized user on your deceased husband's account and have disputed an item what do you do if they will not remove it from your credit?
They do this all the time. And they should not be allowed to get away with it. Authorized users cannot be held accountable for the debt. (Except spouses who reside in a community property state.) Check www.creditinfocenter.com, it has good information (and dispute letters) concerning CRA's.
If someone is renting a house that is NOT in their name and the owner of the house has a lien filed against them how does that affect the renter and their credit?
It would not affect your credit at all because you are merely the tenant and are renting the property. Since you do not own it, and the owner is the person that has the lien filed against them, it will not affect you or your credit.
