Credit and Marriage

Scott Bilker is the author of the best-selling books, Talk Your Way Out of Credit Card Debt, Credit Card and Debt Management, and How to be more Credit Card and Debt Smart. He's also the editor and publisher of DebtSmartŪ.

Scott,
I was 36 when I married. I have excellent credit. However, the man I married went through a messy divorce and his credit is moderate at best. If I apply for credit, such as a new car, am I obligated to list my husband's debts or can I still obtain credit in my own name?

--Vicky

Vicky,
When you got married you also married his credit. For better or worse. But that doesn't mean that it has to entirely affect your credit.

If you apply for that new car, you won't have to list any of his information unless the cars is going to be in his name as well. If it's your car, and you're doing the financing, then they should only be researching your credit background.

The only problems that can arise are from any joint accounts. These accounts will show up in your credit report. But if these accounts are being paid on time, then you should have no problems.

As long as his credit problems don't have your name attached to them, you should be okay.

Have you taken a look at your credit report lately? If not then take a look at both reports (you and your husbands). I like to use MyFico.com. You can look at all three credit reports and the overall scores. By checking your credit report, in advance, you'll know exactly what to expect when applying for financing.

Good luck and please let me know what happens!
Regards,
Scott