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4 Bumps

My soon to be hubby is filing a bankruptcy...

I know if we are married when he files I get it on my credit history too, so I am wondering if I wait until after he files, but it is not finalized until after marriage will it affect me at all, or should we just wait until it is completley done?

I have very good credit so I don't want to ruin it.

 
Anonymous

Asked by Anonymous at 8:50 PM on Aug. 14, 2010 in Money & Work

This question is closed.
Answers (16)
  • It will not get on your credit card history. I filed before I married my husband and I have been riding his good credit coat tails until mine clears. I've been able to get a couple of credit cards since, but I don't use them very often.
    Izsarejman

    Answer by Izsarejman at 8:57 PM on Aug. 14, 2010

  • Once you are married it effects you too. Anytime you try to get credit cards or loans where both your names appear, his credit history including that bankruptcy will show up for the next decade.
    WoodWitch

    Answer by WoodWitch at 8:53 PM on Aug. 14, 2010

  • I think once you are married his bad credit is yours, but I am not sure. You should make all major purchases before you get married, just in case.
    dancinintherain

    Answer by dancinintherain at 8:53 PM on Aug. 14, 2010

  • As I understand it, once you are married your credit ratings will merge as well, as when you apply for credit or loans, your combined income and credit rating will be used to determine your interest rate and terms of the loan!
    LoriKeet

    Answer by LoriKeet at 8:54 PM on Aug. 14, 2010

  • I would wait until it was finalized. Don't ruin your credit for anyone.
    kathria

    Answer by kathria at 8:53 PM on Aug. 14, 2010

  • Ask the lawyer he's going to use. Personally, if you have really good credit, I'd wait until after his bankruptcy has been discharged. Just to be safe!
    Mommygoose

    Answer by Mommygoose at 8:53 PM on Aug. 14, 2010

  • I already asked a lawyer, it does not effect my credit if he files before we get married, it would only be if he filed after, but I am wondering about that middle time...
    Anonymous

    Comment by Anonymous (original poster) at 8:54 PM on Aug. 14, 2010

  • My sister was in the exact same spot you are in a year ago. They got married and now her credit is shot. Not because his reflected on hers, but because her husband never leaned how to budget his money. So she paid all the bill and they racked up even more bills and now every month she takes out payday loans and they keep spending. They can not buy a bigger house and he has two kids, so she can't have a baby because they have no place to put one.

    I personally would not marry someone with such credit problems without extreme financial counseling and you being complete control of the money until he proves he is capable of doing some of it.
    SleepingBeautee

    Answer by SleepingBeautee at 8:56 PM on Aug. 14, 2010

  • Oh I just got my answer, I looked it up

    It will not effect me because my name is not on it. :) And I don't HAVE to open credit lines and loans with his name, it'd be nice, but I don't have to.
    Anonymous

    Comment by Anonymous (original poster) at 8:56 PM on Aug. 14, 2010

  • Oh, no... it will effect you after you are married if you attempt to get a mortgage or credit cards where both your names appear. The process of going through the bankruptcy will not effect you as long as you are not married...but bankruptcy stays on his credit history for 7, 11 or 13 years. Just because he is discharged in court doesn't mean anything later. When you go to buy a house and they run your credit reports they will see that, even if it six years from now.
    WoodWitch

    Answer by WoodWitch at 8:58 PM on Aug. 14, 2010

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