Highlights: Getting married and changing your name wont affect your credit reports, credit history or credit scores. One spouses poor credit wont impact the other spouse -- unless you jointly apply for a loan or open a joint account.
Does my partners bad credit affect mine?
Marrying a person with a bad credit history wont affect your own credit record. You and your spouse will continue to have separate credit reports after you marry. However, any debts you take on jointly will be reported on both your and your spouses credit reports.
Does my wifes credit affect my credit?
Credit scores are calculated on a specific individuals credit history. If your spouse has a bad credit score, it will not affect your credit score. However, when you apply for loans together, like mortgages, lenders will look at both your scores. If one of you has a poor credit score, it counts against you both.
Do married couples share credit scores?
Theres no such thing as a marriage credit score. So credit histories and scores dont combine when you get married. And how your spouse uses their individual credit accounts cant impact your individual credit accounts. Youll also both be responsible for the activity on your joint credit accounts.
Are you responsible for your spouses debt before marriage?
Debts you and your spouse incurred before marriage remain your own individual obligations—but youll share responsibility for debts you take on together after the wedding.
Why is my husbands credit card on my credit report?
There are two possibilities why your husbands debts are on showing up on your credit report. In the second scenario, your husband may have fraudulently used your personal information to make you a joint account holder on his credit cards, leaving you equally responsible for any debts he ran up.
Do lenders look at both credit scores?
Lenders will look at both of your credit scores and histories. The first hurdle is clearing the lenders credit score requirement. Those will vary by lender and loan type, but its typically anywhere from a 580 for FHA financing to a 720 or higher for conventional.
What credit score does a couple need to buy a house?
620 For most loan types, the credit score needed to buy a house is at least 620. But higher is better, and borrowers with scores of 740 or more will get the lowest interest rates.
What is a decent credit score?
Generally speaking, a credit score is a three-digit number ranging from 300 to 850. Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.
Can debt collectors go after spouse?
“In California, once creditors receive a judgment, they can collect against either spouse because were a community property state,” says John G. Stein, an attorney in Elk Grove, Calif. Creditors can take money (known as a garnishment) from bank accounts.
Can debt collectors find me if I change my name?
Changing your name does not mean that you can ignore debts taken out in your previous name – they are still “yours” no matter what you call yourself. With so much detailed data, it is becoming easier to “find” people, even if they have changed their name.
Can I check my husbands credit score?
A: No, you cant check your spouses (or exs) personal credit reports. In order to request a consumer report on someone else, you must have whats called a “permissible purpose” under federal law, and marriage or divorce is not one of them. Its illegal, and it sounds like your divorce is messy enough as it is.
Can a married couple buy a house in only one person name?
The short answer is “yes,” it is possible for a married couple to apply for a mortgage under only one of their names. If youre married and youre taking the plunge into the real estate market, heres what you should know about buying a house with only one spouse on the loan.
Can I buy a house with a 657 credit score?
If your credit score is a 657 or higher, and you meet other requirements, you should not have any problem getting a mortgage. The types of programs that are available to borrowers with a 657 credit score are: conventional loans, FHA loans, VA loans, USDA loans, jumbo loans, and non-prime loans.