If my girlfriend files for bankruptcy, will it affect my ability to establish good credit or apply for a private or student loan if we marry?

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If my girlfriend files for bankruptcy, will it affect my ability to establish good credit or apply for a private or student loan if we marry?

Asked on December 17, 2012 under Bankruptcy Law, California

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

It can indirectly affect you, yes. While her bankruptcy will not affect your own credit score or history, when a married person seeks significant financing (e.g. for a house, a car, a business loan, a student loan), lenders will usually look at the credit histories and scores of both spouses; they do that because financial distress or bad economic habits of one spouse can impact the ability of the other spouse to repay a loan. So a bad credit history for your girlfriend can hurt your chance to get certain types of financing and/or cause you to pay more for the financing than you would have otherwise.


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