SoFaithful Posted October 28, 2004 Report Share Posted October 28, 2004 I'm not sure where to post this....anyway.If a person with bad credit marries a person with good credit, how will it affect the latter person's good credit? Should they apply for credit, mortgage, etc. separately or together? Link to comment Share on other sites More sharing options...
DocDon Posted October 28, 2004 Report Share Posted October 28, 2004 It wouldn't affect the person with good credit unless that person applied for joint ownership of the account. The person with good credit can often help the person with not-so-good credit by making them AU's on their accounts. It's not joint, but they get the positive history (individual creditors handle reporting AU's differently).There are many reasons for bad credit, however, if the main reason is irresponsibility, I wouldn't suggest doing anything jointly from the get-go.... Link to comment Share on other sites More sharing options...
Ravenous Wolf Posted October 28, 2004 Report Share Posted October 28, 2004 Join the club.I keep EVERYTHING separate from my wife.Someday, everything will be joint but for the time being, I will keep everything separate. Link to comment Share on other sites More sharing options...
Recovering Attorney Posted October 28, 2004 Report Share Posted October 28, 2004 Making someone and AU will help their credit. However, I would make sure that person doesn't use the credit facility . There are many reasons for a bad credit history, but I can tell you from experience people don't change, so if the other is irresponsible, do not take a chance. Mortgages or car loans might be unavoidable, but that is okay. we all take those seriously. Link to comment Share on other sites More sharing options...
workinninetofive Posted October 28, 2004 Report Share Posted October 28, 2004 You should keep everything seperate. I believe in seperate accts, etc. even if both have great credit. I just like everything seperate.but I can tell you from experience people don't change Link to comment Share on other sites More sharing options...
Recovering Attorney Posted October 28, 2004 Report Share Posted October 28, 2004 Fair enough, Workin. Mary Hunt has great insight into spending, budgeting and melding money styles in marriage. Read her books. Here is her excellent site:http://www.cheapskatemonthly.com/ Link to comment Share on other sites More sharing options...
SoFaithful Posted October 29, 2004 Author Report Share Posted October 29, 2004 Thanks to all for the great replies. Link to comment Share on other sites More sharing options...
Ravenous Wolf Posted October 30, 2004 Report Share Posted October 30, 2004 I agree with Recovering Attorney.It takes a big life altering event for someone to change character and become responsible. I am not saying that it cannot happen but I wouldn't bet a timely credit card payment over it.Also, Recovering Attorney hit the nail right on the head with mortgage payments and car payments. Even irresponsible people make those payments because missing them will put you into a world of [EXPLETIVE DELETED]. And that too would become a life altering event in its own right. Link to comment Share on other sites More sharing options...
workinninetofive Posted October 30, 2004 Report Share Posted October 30, 2004 I've seen many people change.. I guess the glass is half full to me! Link to comment Share on other sites More sharing options...
Ravenous Wolf Posted October 31, 2004 Report Share Posted October 31, 2004 I agree that people change...My credit used to suck big green donkey [EXPLETIVE DELETED].I had defaulted student loans, charged off credit cards, judgments, etc...But instead of being a victim, I became an empowered consumer and now my credit report is spotless.So yes, people do change because I am one of them.However, from my experience, I can say that I would not bet a timely credit card payment for change unless someone reaches deep down inside and wants to change... Link to comment Share on other sites More sharing options...
workinninetofive Posted November 1, 2004 Report Share Posted November 1, 2004 Totally agree, you have to want to change.. your SO is not going to make it happen. Link to comment Share on other sites More sharing options...
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