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Q: Can my husband’s bad credit affect my credit score? And will I be responsible for his debt, if he can’t pay it off?

A: In general, the only time that debt becomes intertwined (like initials on a married couple’s monogrammed towel set) is when both partners apply for credit cards or loans jointly. If you are a co-signer on your husband’s credit cards, you automatically share his debt, and that debt will affect your individual credit score. (Your excellent credit will also serve to raise his score, when you apply for joint accounts.)

          As a co-signer of any account or loan, you will be held responsible for paying the debt off if he cannot meet payments—even after you divorce, should your marriage dissolve (in which case you’ll probably also be fighting over who keeps those darned towels). That’s why it’s so important to cancel all joint cards as soon as you know that your marriage is ending. You’ll still have to pay off the balances you owe together, but at least he won’t be able to charge more.

          The exception to this rule occurs in community property states (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, and Washington), where spouses can be held responsible for each other’s individual debt, subject to a judge’s ruling.

          The good news is that, in most states, you are not liable for any debts that your spouse accumulated before he married you. Because everyone handles money differently, it’s wise to maintain your own separate financial identity in marriage. Even if your husband has an exemplary credit record, having your own record will put you ahead of the game if you’re ever in the position of living by yourself again.

          Another aspect of his-and-hers credit to keep in mind: If you and your husband intend to apply for a mortgage or car loan and one of you has poor credit, the person with the better credit score will qualify for a better interest rate by applying alone. Of course, the amount of money you’ll be approved to borrow will be limited by your salary. So weigh your options carefully before you decide whether to apply for credit jointly or singly. And if you’re applying singly, bear in mind that you alone will ultimately be responsible for paying the debt off.

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This answer was prepared by the staff of MAKING BREAD, in part using the resources of www.nolo.com.  Visit www.nolo.com as your starting point for general legal advice

 on a wide range of topics.

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