I have about 30K in credit card debt (but I have good credit scores in the upper 600 and lower 700s) and my fiance and I are getting married in March 2008. We are working on getting the debt down but obviously it won%26#039;t be in time for the wedding. When we get married, we are wondering if having all this debt will mess up my fianc茅%26#039;s credit when we try to put my name on the house paperwork. (He owned the house before he met me).
Will my credit card debt ruin my fianc茅%26#039;s credit when we get married?
As long as you are making payments it wont ruin your husband%26#039;s credit rating at all. It will make a difference in how much you and he could get in a future loan since you already owe a lot in revolving credit.
Will my credit card debt ruin my fianc茅%26#039;s credit when we get married?
600-700 is NOT good in terms of credit
I dont see a problem with adding your name to the house and no it wont mess up his credit as long as he does not try to refinance
I doubt that the bank will allow him to do it because they dont want him to risk you trying to do a home equity loan...
or that your creditors will come after his house
contact the loan company and ask them
keep your name off the house till you get your credit under control and better
cut up the cards and find out what made you charge that much money
that you could not repay
Will my credit card debt ruin my fianc茅%26#039;s credit when we get married?
your better off to leave your name off the house at that time until your debt is paid off as they can take the house from your finacee to pay off your debt.
Will my credit card debt ruin my fianc茅%26#039;s credit when we get married?
Your debt won%26#039;t help him any but shouldn%26#039;t ruin his credit score. My wife and I had a similar situation before we got married. We put everything new in my name after we got married. In a few years our credit rating was back to normal and hers had improved. It sounds like you are doing fine.
Will my credit card debt ruin my fianc茅%26#039;s credit when we get married?
As long as you are on time with payments and are paying it down, it shouldn%26#039;t be a problem. Your credit score will improve some once you combine your incomes. Just don%26#039;t get delinquent. That will hurt you in a hurry.
Will my credit card debt ruin my fianc茅%26#039;s credit when we get married?
623 is average credit score in US, you aren%26#039;t great, but you aren%26#039;t horrible either.. I dunno what the first guy was talking about. pretty much after 600 you can at least try for loans .. 700 you are pretty much guaranteed one.
Anyway. I don%26#039;t think it%26#039;s going to affect his credit, but if you too should want to try to file jointly for a loan, your credit score will be looked at as well as his. But having that much credit card debt is never good, I would get it consolidated and pay it off as soon as possible.
Will my credit card debt ruin my fianc茅%26#039;s credit when we get married?
it won%26#039;t ruin his credit because that debt is in YOUR name
it has nothing to do with him or his credit
Will my credit card debt ruin my fianc茅%26#039;s credit when we get married?
Here%26#039;s a suggestion. Why not get a loan that will allow you to pay off all your debt? You%26#039;ll save a bundle from high interest rates, get higher credit ratings because you paid off early, and you%26#039;ll probably have some left over to set aside for your wedding.
At: makemoneyconcepts.com/prosper you can get a loan pretty easily because it%26#039;s people lending to people, so you have no bank red tape and hassles. They also let you choose your own interest rate that you want to pay.
Contrary to what most believe, a little debt is good for your credit because lenders can look at your credit history and be willing to lend to you at lower interest rates if you ever need to borrow again.
Hope this helps, congrats on wedding and have a long and happy marriage.
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