Internet's first get-out-of-debt community - 122,000 members

Posted: Tue Nov 27, 2007 4:39 pm Subject: two income house holds

I am retired and my wife is retired as well. I had a business that dwindled to nothing qnd i am in debt. If i do a debt reduction will my spouses income have to be factored in.
Next years she want to purchase a home in another state sdo I am trying to hold off a decsion as long as I can.
She thinks that since her credit is good then whatever I do shouldn't efefct her credit rating or purchasing power.

Posted: Thu Nov 29, 2007 4:00 pm Subject:

What type of debt reduction are you considering? Other than filing for bankruptcy or taking out a debt consolidation loan (in some cases), her income and credit should play no part in this if the debts are solely in your name. If any of the debts are joint, then she would be affected.

Posted: Fri Nov 30, 2007 11:53 am Subject:

Would your debt consolidation effect her good credit? Is that what you are asking? I'm not really sure myself. I would imagine that any debt consolidation/reduction activities would improve your score and not affect hers, like Tiffany said, as long as all the accounts (particularly the debts) are not jointly owned....