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A Spouse’s Bad Credit

Credit Cards

By Amy E. Feldman

PHILADELPHIA (CBS) - It’s wedding season. What do you do to protect your good credit when tying the knot with someone whose credit is a disaster?

Eagles quarterback Michael Vick and his fiancée are set to tie the knot next month. With his salary of over $12 million this year, his fiancée probably isn’t too worried about his past financial history and bankruptcy. But most couples have concern if one of the pair has bad credit.

Debts that were individually incurred before marriage don’t become part of your credit history. But if the couple gets joint credit cards or joint bank accounts, debts accrued during marriage will have both names on them no matter who made the purchase. Credit reports are individual so debt that was brought into the marriage stays on the report of the one who accrued it but if you are looking to buy a home together encourage your mate to regain good credit by paying bills on time and establishing a better record to make joint loans possible. And, if you’re Michael Vick’s bride, encourage him to get a Super Bowl ring in addition to a wedding ring this year.

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