Full question:
If I marry someone with a bad credit rating, can I keep my current credit score and not have any of his creditors coming after me? I read that my property can be protected but nothing about creditors.
- Category: Debts and Credit
- Subcategory: Credit Repair
- Date:
- State: Pennsylvania
Answer:
In general, a spouse is only responsible for the other’s debts if they co-sign or share the debt, unless they live in a community property state. In community property states, both spouses may be liable for each other’s debts. However, creditors typically cannot pursue one spouse for the other’s separate debts.
If one spouse has a good credit score and the other does not, financial decisions may favor the spouse with the better credit. Many couples choose to apply for credit under the name of the spouse with the higher score to secure better interest rates. This can create strain if the spouse with the better credit feels overwhelmed by the financial responsibilities.
When taking out a loan together, both spouses' payment histories will affect their credit reports. Creditors are required to report joint accounts on both names. Applying jointly may result in higher interest rates or denial of credit. However, timely payments can help improve the credit score of the spouse with bad credit.
To protect your credit rating, avoid signing joint agreements, limit authorized users, and keep checking accounts separate. These steps can help you manage your finances and maintain your good credit. Ultimately, working on improving your spouse's credit may be the best solution.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.