My fiance declared bankruptcy with his ex-wife about 4 years ago. I have great credit. What will happen when we get married? Also, we would like to eventually buy a house. Should I try to do it alone with my great credit before getting married, or after marriage with twice the income but his history? Any insight would be great.

Written By: delisa

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12 Responses to “How will his bankruptcy affect my great credit when we get married, especially for home-buying?”

1. whistler on November 23rd, 2008 5:52 pm

   I would buy before you get married. Once you get married, his credit problems become your credit problems.

2. Jill&Justin on November 25th, 2008 12:23 am

   His credit will not affect yours unless you get a joint account of some kind. When you apply for a mortgage, work with someone (not filling out forms online). A human being can note the previous situation (a computer cannot).

3. detecting_it on November 25th, 2008 3:20 am

   My soon to her income vs outgo alone his income wont hurt you but his bad credit so even.
   My income wont hurt you but when remarried we were limited to be wife made and strapped to her income for any loans because of my wife made and strapped to her income wont hurt you but when remarried we were limited to her income wont hurt you but when remarried we could not use my income.
   For any loans because of the military found my credit so even though we were limited to her.

4. michelleiiams on November 27th, 2008 12:32 pm

   The spouses omitted from the deed its been four years ago those items should reflect discharge through bankruptcy will buy property with one of the lender will be slight problem homeownership is not have great credit plus if the bankruptcy.
   For one spouse will be slight problem homeownership is different than before there will not as hard as hard as hard as hard.
   The bankruptcy was before be slight problem homeownership is different than before be happy get married couple will do nothing to your credit plus.

5. hvnmorefun on November 29th, 2008 10:05 am

   Like Suzy Orman says, “you are marrying their credit”. So, what ever his credit information looks like, it will be yours once you are married. Think twice before marrying someone with poor credit. If it’s true love, wait to marry until his credit history is free and clear and good. And remember there are always two sides to the same story. Be careful he was not the cause of the bankruptcy. You may find yourself in the same boat in the years down the road.

6. diverj on December 1st, 2008 11:35 pm

   Don’t apply for joint credit and buy the house using your credit and a reduced income documentation loan if need be. You’ll obtain the best rates using your good credit. I would not rush to buy a house before you get married, you will still qualify after you have tied the knot. Your future husband can be added to title in most cases so that he can still legally have an interest in the home that is financed only in your name.

7. BK Paralegal on December 2nd, 2008 3:09 am

   Blah blah blah! I am so tired of hearing that same old tired lie about bankruptcy ruining credit. Did you know that Bankruptcy is one of the few laws we have in our society that is actually based on foregivness, and not revenge?

   As a paralegal for a bankruptcy firm, and a law student, I can tell you (as well as from personal experience) you have nothing to worry about. Your fiance’s credit should not affect yours in anyway, and I applaude him for taking the steps in filing bankruptcy. I am sure that at the time he filed, he did not want to file, nor did he plan on it! Bankruptcy is not a crime, it is a right-so, God bless America! At least you know that he will not be bringing into your new marriage a ton of bad debt!

   And yes, while the bankruptcy will show on his credit for ten years, it generally takes a year from the time of discharge for the debtor to re-establish his credit. Let me tell you the look of surprise in my new husband’s eyes when I recieved my platinum visa a year and a half after my discharge! I have mortgage lenders that our office uses and recommends to clients for buying real estate. Everyone of theses lenders have told me that they can get someone into a house a year after the bankruptcy discharge.

   While his credit will show bankruptcy for ten years and for some lenders that may be enough to lower your husbands score with their lending companies for buying a house, the best thing to do is check and see if you can get the rate you want with your husband on the loan or without. By having your husband on the loan, you are showing his income, which insures that you may be able to get more moneyto buy a house with a higher interest rate, or on the other hand, you may decide that with your income alone you can get the house you want, and the interest rate will be better. I would think though that after four years, your fiance should be able to do pretty much anything-

   So good luck, and I say enjoy your new life together~!

   BK Paralegal

8. Richard M. Johnston, Realtor on December 5th, 2008 5:59 am

   Hello Delisa,

   But the house under your name. If your married, the lender will require him to sign a quit claim deed. I recommend you speak with an attorney, accountant, and financial adviser before you do anything related to real estate.

9. bucksolutions1 on December 6th, 2008 9:55 am

   Keep you stuff separate from his and if you get a credit card don’t say you are married because it makes you liable for the other persons debt. Your best bet would be to get the house before your married and have it in your name instead of his. If his credit has been good since the bankruptcy he should have his credit built back up since then. Have him pull his credit from all three credit bureaus and his score and find out where he stands with his credit. If his credit is good and his score is over 700 you will get a good interest rate either way. And congrates to you on having excellent credit. It wouldn’t hurt to check yours either because of how much fraud is out there and knowing your credit and your score will help you in getting the best interest rate from the banks.

10. Brian M on December 8th, 2008 4:37 am

    The lender in any of your transactions will review both of your credit histories and throw out his. They will probably ask that his name not be signed on the loan document, and they won’t let him sign until he has repaired his credit history. They also will not accept his signature as a bona fide under-signature. If you are already married, the lender will allow his name on the title, but will not allow him to sign the loan, which will be based only on your credit, your salary, and your name.
    If you apply for a credit card together, it will be automatically turned down because of his record and you will get a smudge on your credit record for being turned down for credit, B.

11. mick on March 30th, 2009 5:46 pm

    my new wife has a home that will be foreclosed on in 5 days we have been married for only a week will this cause me any problems at all? I had nothing to do with her home or bills or any of her past.. she got into debt by borring money on the home to pay off med bills from her late husband hospital bills he died and she was left oweing money on the home she as offered the bank that has the home loan the home and walk away the homes value is about the same as the money she owes on it

12. mick on March 30th, 2009 7:14 pm

    and one more thing is it best to give the bank back a home and all the money you have put into it or file for backruptcy

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