if I marry someone who is filing for bankruptcy- does her bankruptcy affect my credit rating?
Terry Says: It will — as soon as you do anything jointly — even a little a commitment as both signing up for the same utility. And for sure if you sign for a mortgage. In fact, with a recent bankruptcy you won’t get a mortgage!
I want you to think very carefully about the implications of marrying someone with a bankruptcy on her record — not only the financial implications, but the “why” she was so in debt. If it was an unexpected medical situation, that is not such an issue. But if it was “over-spending” or lack of knowledge about budgeting or debt — be honest here– then you are walking into even greater financial issues in the future.
I suggest you both go together to Consumer Credit Counseling Services. Call 800-388-2227 to be connected to the nearest local office. Look at each other’s credit reports. Talk with a counselor about how you would manage finances in marriage. This is a serious lifetime issue!