Will my credit rating affect my husbands if I have filed for bankruptcy? 3 Answers as of December 18, 2010

My husband wants to buy a house, The financier said that the new laws over in Australia say that I have to go on the application because we are married and he is getting the 1st home owners grant. But I have been bankrupt and I have been discharged for 1 yr, I served 3 years in it. I do not want to affect his credit rating, can I apply with him, will it affect him in any way if I do? Is it true about the law?

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Mankus & Marchan, LTD
Mankus & Marchan, LTD | Tony Mankus
Your credit rating will not affect your husband's credit rating, but if you co-sign on a loan with your husband, the bank may see your credit report, as well as your husband's.
Answer Applies to: Illinois
Replied: 12/18/2010
William C. Gosnell, Attorney at Law
William C. Gosnell, Attorney at Law | William C. Gosnell
The Federal Law requires that the credit reporting bureaus keep separate credit records on people married or not.

However, if you apply for a loan in your joint names it will bleed over.
Answer Applies to: Tennessee
Replied: 12/17/2010
Law Office of L. Paul Zahn
Law Office of L. Paul Zahn | Paul Zahn
This is not a legal issue, as the courts do not establish, modify, or otherwise effect credit scores which are the dominion of the credit agencies. That said, it is my understanding that each person's credit score is based upon their history and theirs alone. It would probably be a good idea to contact one or more of the credit agencies with this question, however.
Answer Applies to: California
Replied: 12/16/2010
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