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Bad Credit...get married?

My SO's credit isn't all that great. Mine isn't either...just slipped up during college & I owe Capital One $2000 and Compass over $300. Plus student loans & an unpaid $200 cable/internet bill.

He wants to get married soon, but I'd rather wait until we repair our credit & pay our debts.

He took his car to a title loan place & pawned his car title w/o telling me. This must've been the most idiotic thing ever. Anyway, the car is no longer running. He's gotten letters saying that he owes X amount of money or there will be legal action. They also came looking for the car before that. I know that title loan places are no joke, but how badly does is damage one's credit? If we got married, will it ruin mine?

I don't need to hear any bashing on "Why would you want to marry someone so irresponsible?" It was a mistake that got out of hand.

I want us to be able to buy a home one day.

What should I do?!

Answer Question

Asked by Anonymous at 9:25 PM on Jun. 24, 2009 in Money & Work

Answers (6)
  • i'd wait til you both are at least paying on stuff and can show you've made payments. as far as it damaging your credit, i'm not sure, but when you get married you're name will appear on his credit report and his on yours as well. like i said i'd wait til you guys have made about a years worth of on time payments beforehand that way when you go to get a place, try to buy a house, buy a new car can show you've made payments on time for the past year so it shows you're attempting to settle your debt

    Answer by vabchmommy at 9:28 PM on Jun. 24, 2009

  • whatever happens before your got married will not show up on his or your credit report, so his bad credit won't be added to yours and yours won't be added to his

    Answer by looovemybabies at 9:32 PM on Jun. 24, 2009

  • If you get married it won't affect your credit, but obviously when you go to sign on something together (another vehicle, a house, an apartment, etc.) then it will have an effect. Reparing your credit does not take long. I have been with my husband for 4 years. When we met he was starting the bankruptcy process and it was completed about a year later, so 3 years ago now. It was medical bankruptcy, so I suppose it's not quite as bad, but it still shows up as a bankruptcy on your credit report and brings your score down. He opened a credit card shortly after finishing the bankruptcy (one of those where you actually have to pay like $250 to even open it!) and that's how he started rebuilding. Keep using the credit card, but you also want to keep paying it off or keeping the balance low. It's been 3 years since then and we just bought a house with a 5.5% interest rate, which isn't bad at all.

    Answer by Anonymous at 9:47 PM on Jun. 24, 2009

  • the past does show up on your joint credit once you get married. his debt becomes your debt && vice versa.

    Answer by HisMommySince07 at 9:49 PM on Jun. 24, 2009

  • That is not entirely correct, you are 2 seperate people. My husband has better credit than me and gets credit. I do not, so that throws that out the window!

    Talk to a counselor. If you are in need of any medical discount plans, our plans come with credit counselors. They will even help you get into a house with no down payment.

    Marriage is a psychological thing that will only enhance your relationship.

    True love is through thick and thin.

    Answer by IraqiVetWife at 10:48 PM on Jun. 24, 2009

  • It's really up to you. I wouldn't base a marriage on someone's debt. GL

    Answer by azn_ladie82 at 1:15 AM on Jun. 25, 2009

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