Dating bad credit

Posted by / 20-Jul-2019 09:41

Dating bad credit

Apart from the actual monetary complications that a spouse with bad credit might bring into your own financial affairs, it can also pose dangers for comfortable married life.Remember this is a person who is already under substantial debt and therefore unlikely to be able to afford taking anymore financial responsibilities after marriage.However if you are not sure whether your partner’s bad credit is the result of a one-off misfortune or a symptom of careless living, one solution would be for you and your spouse to keep your accounts separate and apply for new credit separately, at least until your spouse’s credit history gets better.And finally remember one of the easiest ways to improve credit rating is to pay your bills on time.In the United States, your credit history does not automatically become suspect if you marry someone with bad credit.

So if you have married a person with bad credit and then if you proceed to jointly seek a mortgage or a business loan, you may find your application being turned down.

But then why someone else’s bad credit should be a problem for you?

The answer lies in the fact that once you get married to this person, knowingly or otherwise, you often end up having tied your fortunes to his/hers.

If you continue to make regular debt repayments, there is no reason why your credit score should suffer.

However the danger lies in entering into joint financial agreements with a partner who has a poor credit rating.

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So here are the facts about marrying someone with bad credit and what you can do about it.