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Article:
Ask the Credit Counselor by: Howard Dvorkin Q: I am getting married soon. My credit is great, but my husband can't even get a credit card in his own name due to past credit problems. How will his credit affect mine? A: The good news is that the credit histories of spouses are not merged. In fact, it is possible to keep your credit history completely separate from your future husband's, as long as you don't add each other to your existing accounts or get new credit in both your names. Keep in mind, though, that if you live in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin) debts incurred by either spouse during the marriage are considered community property. That means if he does start qualifying for credit again, you could be responsible for any debts he incurs while you're married. Also be careful about helping your husband rebuild his credit by cosigning new loans with him. By cosigning, you will be entirely responsible for those loans or credit cards. I may sound a bit cynical, but I see these problems all the time. While your betrothed may have told you his poor credit history was due to circumstances beyond his control (and that may be true), my experience is that most people with credit problems don't learn the skills they need to keep them from repeating their failures. It sounds like you and your husband have different approaches to handling money. It's best to sort those issues out before you tie the knot, since money challenges are cited as the number one cause of divorce. Before you walk down the aisle, run '“ don't walk '“ together to a money management course where you can learn how to see eye to eye on this important issue. Q: Over the past two years I was unemployed and working temporary jobs. I ran up about $'20
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