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Should you apply for a joint auto loan if one person is new to credit and the spouse has less than average credit?
Working in the collections industry I am jaded. I would say never sign for credit on a vehicle unless it's for your own car. If you get divorced you will be on that loan and also held responsible for the funds. If they can't find your spouse then your wages will be garnished. I have never financed with anyone including my husband. (except on our house which is a different story.)
What else can I help you with?
When you get married, does your credit combine with your spouse's credit?
When you get married, your credit does not automatically combine with your spouse's credit. Each person maintains their own credit history and score, but joint accounts or loans can impact both individuals' credit.
When you get married, does your credit combine with your spouse's?
When you get married, your credit does not automatically combine with your spouse's. Each person maintains their own credit history and score, but joint accounts or loans can impact both individuals' credit.
How much credit card debt should I transfer to my spouse to improve both of our credit scores?
none. how does putting your spouse in your debt help their score?
What should you do to protect yourself if your new spouse of 3 months has terrible credit?
Do not put your name on anything he has that way your credit does not get mixed. As long as you keep things separate you should be fine. My suggestion is to get your spouse to a credit counseling service to see what they can do, but if it is over 7 years forget about it
If you have bad credit will it affect the credit score of your spouse?
Your credit standing alone won't affect your spouse's credit. The only way your spouse's credit would be affected along with yours is if you jointly hold accounts and then fail to pay them.
When you get married, does your credit combine with your spouse's credit?
When you get married, your credit does not automatically combine with your spouse's credit. Each person maintains their own credit history and score, but joint accounts or loans can impact both individuals' credit.
Will your spouse's credit score be affected if your individually owned property is foreclosed spouse's name is not on the deed?
Your spouse's credit score should not be affected if he/she is not on the deed or on the mortgage that was foreclosed.
When you get married, does your credit combine with your spouse's?
When you get married, your credit does not automatically combine with your spouse's. Each person maintains their own credit history and score, but joint accounts or loans can impact both individuals' credit.
How much credit card debt should I transfer to my spouse to improve both of our credit scores?
none. how does putting your spouse in your debt help their score?
When the cosigner dies is the spouse responsible for a repossion that she did not cosign for?
The spouse is not responsible and should not have this on her credit. But the estate of the deceased will still be responsible for the debt.
What should you do to protect yourself if your new spouse of 3 months has terrible credit?
Do not put your name on anything he has that way your credit does not get mixed. As long as you keep things separate you should be fine. My suggestion is to get your spouse to a credit counseling service to see what they can do, but if it is over 7 years forget about it
When a married person co-signs for someone else what effect does it have on the other spouse's credit?
None.
What are the qualities one should look for in a spouse?
The desired qualities of a spouse will vary from person to person. Generally, one should look for a person who is honest, loving, kind, humorous, and intelligent.
Can your spouse assume your deceased parent's mortgage?
If your spouse has a good credit record that lender should approve. However, you will need to discuss it with the lender.
How much should a person backup their spouse?
100%
If you have bad credit will it affect the credit score of your spouse?
Your credit standing alone won't affect your spouse's credit. The only way your spouse's credit would be affected along with yours is if you jointly hold accounts and then fail to pay them.
Can a spouse with good credit cosign a student loan for their spouse with bad credit?
That is decided by the LENDER.
