So I Married Bad Credit

Marriage is not only the bringing together of two individuals in love who vow to spend the rest of their lives together, it is also a marrying of two credit histories for better or for worse. Asking the betrothed for complete disclosure of credit histories sounds about as romantic as a prenuptial agreement but may be just as important in some cases. In the interest of full disclosure it is well worth it to be aware of the two credit reports which will soon become one.

Having a serious conversation about credit history even going as far as swapping credit reports before the vows are read may be a make or break deal in the engagement. Like it or not, the three credit bureaus track every facet of an individuals credit history, this includes any joint accounts as well as accounts where one may only be an authorized signer. Whether the accounts are within your ability to pay the bills on time are of no consequence to creditors or the credit rating agencies and whether these items are positive or negative factors on your credit report likewise makes no difference.

If upon finding out that the lovely bride or dashing groom to whom you are engaged has horrifically bad credit, there are ways to protect your own credit the best you can ahead of time. The best way to go about this is to keep all accounts separate until the betrothed is able to restore positive credit, this includes adding one another as an authorized signer. Additionally, there are states within the U.S. considered Community Property States that consider accounts and property acquired prior to marriage sole property of the respective bride or groom throughout the marriage.

It is better to at the very least be aware of the bad credit you may be marrying ahead of time. Financial disagreements are the leading cause of divorce these days and while it may seem that love will conquer all now, it won’t qualify the two of you for that new home to begin your growing family.