“I am in debt at this time with credit cards and students loans.
By getting married would this affect my fiances credit. At this point we have been able to buy a car and a home with his credit alone. By getting married I don’t want to ruin his credit just in case we wanted to buy another house in the future or any other things that require GOOD CREDIT.
Are your payments to the credit card and student loan debts you refer to delinquent? If so, how late?
Accounts exclusively in your name will not show or have an effect on your fiancés credit score or credit report once you are married.
If you later do apply for credit jointly, such as another home, where you are considered a co-borrower, blemishes contained in your report could impact the rates and payment terms of loans you apply for together.
Depending on the circumstances, having credit in one spouses name alone is a good financial decision if their income alone would not require your additional income to qualify. In other instances, once you have been able to address the items of concern contained in your credit report, being listed on new loans will help you recover your credit.
If you can answer the questions I posed above, I may be able to provide more feedback.
Best of success to you in your new marriage!
Michael Bovee is an experienced debt expert who helps answer questions on the GetOutOfDebt.org site. He specializes in helping people with debt settlement through education and assistance. He can be reached at the Consumer Recovery Network.