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Over Extended spouse question


Quartermoon
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I went through a divorce years back and remarried. My credit wasn't exactly prfect raising 4 kids and no support.

I remarried, my husband had excellent credit but in order to move forward we used his credit and my income to establish loans.

Some credit is only in his name, paid on time for the last 2 years etc

Good history and I pay all 3 of these accounts. Would it help my credit score to be on this account with good history? Would it relieve his over-extended

state.. (less income and more debt and my income is much more and I have worse credit)

Thanks for any steering. I am working hard to keep credit clean but divorce 5 years ago hurt me.

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Hi there,

I have a quick question; Are you paying on these debts anyway? I would think having your name put on some of "his" credit would be positive provided it would include a positive history. Maybe someone else would have a better idea, but that's my thought.

Best wishes,

Elyse

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Would it help my credit score to be on this account with good history? Would it relieve his over-extended

state.. (less income and more debt and my income is much more and I have worse credit)

Elyse is right. You're the one who's paying them AND they're current/never late. It can only help you to be added (IF the balances are low and if the creditors will report the TLs to your CR). As for him, sorry...but the debt won't go from his report to yours. The creditor will only add you as an AU or joint. I'm sure they won't switch the responsibility (unless it's a local creditor that you know VERY well who will do such for you). Your DH's credit will still have the same amount of debt until he/both of you pay them down. However, your credit can improve w/ more positive history. But positive history isn't the only factor in raising your scores/improving your credit. Why is your credit "worse" (as you put it)? Have you tried repairing it? Adding the accounts to your credit will not create a miracle improvement if the rest of your report looks like crap. Since the accounts have been open for 2yrs, try to get them added to your CR. In the meantime, begin/resume credit repair. Adding positive TLs is only the beginning (and often not the first step). GL, Doll!8]

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Thanks for your thoughts. Yes, I am in "repair mode" it is wild what can happen if you are not watching over your credit. Inquires.. GIRL! I tried to get a used car for my kids and the auto company had all sorts of inquires.

I wrote to all of them. I only one request and I have 3 DV requests in process that I am waiting for Asset Acceptance to VD and an OC.

Thanks.. take a look at some of my posts, I'd like your thoughts..

Lord Bless.

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