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Would you want a credit report when considering marriage?

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HikingFICOMountain
New Contributor

Re: Would you want a credit report when considering marriage?

LOL @ kahuna
 
I feel you Smiley Very Happy


Message Edited by HikingFICOMountain on 06-05-2008 08:32 PM
~Four steps to achievement: Plan purposefully. Prepare prayerfully. Proceed positively. Pursue persistently~
Message 41 of 50
haulingthescoreup
Moderator Emerita

Re: Would you want a credit report when considering marriage?

I have to agree with Hiking. (Yay, someone else with a crazy-long screen name! But a good one.)

If you're entering into a death-do-us-part relationship, the two of you are becoming an economic unit. Some things, like mortgages, are going to involve both credit reports. Certainly an uninformed thumbs-up/ thumbs-down shouldn't be made on your honey's credit report alone. If it had, I'd be living single with a million cats. But it's important to know both past financial history and current financial behavior, as katecrime pointed out. And not everyone lives together before marriage. (Still a few independent folk out here!)

You shouldn't buy a house without a home inspection, looking for cracks in the foundation and asbestos in the insulation, and you shouldn't enter into a committed relationship without the equivalent amount of knowledge. It doesn't mean that you aren't going to continue the relationship, but it gives both of you the impetus to start talking about the nuts and bolts of running a household.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 42 of 50
Anonymous
Not applicable

Re: Would you want a credit report when considering marriage?

If you have known a person long enought o consider marriage with someone you should obviously have known them long enough to have an idea of their credit and I think that you should know. You should check their criminal history, credit, get the tested for STD's and run a total background check on them, seriously.
Message 43 of 50
katecrime
New Contributor

Re: Would you want a credit report when considering marriage?

oops!  hiking!  i'm sorry and a little embarrassed
 
hauling - i'm not sure how living with someone makes you dependent on them....????
Message 44 of 50
haulingthescoreup
Moderator Emerita

Re: Would you want a credit report when considering marriage?


@katecrime wrote:

....hauling - i'm not sure how living with someone makes you dependent on them....????


I didn't mean it that way. I meant that many people still maintain separate households until they actually marry, so they might not have seen the unpaid bills on the kitchen table, or buried in the underwear drawer, or wherever the person living in denial likes to squirrel things away. Smiley Wink
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 45 of 50
specultr
Regular Contributor

x

 
Message 46 of 50
wmarat
Valued Contributor

Re: Would you want a credit report when considering marriage?

My son is 7 y.o, so when his time to propose comes it is going to sound like this:
OK, hon, I am going to propose, please have your lawer send following documents to my lawer:
1. Updated credit report with FICO scores, you can pull from myfico.com
2. Genetic scan
3. HIV testing
4. Bank statements for at least last 3 years
5. List of assets
6. List of debts
7. Genealogy tree
8. Physical of your grandparents, parents, siblings and yourself
9. Background check
10. Drug test
11. Signed prenup
 
Very romantic.
IN VINO VERITAS.
Message 47 of 50
Anonymous
Not applicable

Re: Would you want a credit report when considering marriage?

My boyfriend and I have been together for a long time now. When I met him he didn't even know he had to file taxes!!! I had to make sure he did them each year. Thank goodness he was still in college and working at a burger joint so he never owed anything but he missed out on 2 years of refunds before we met!! He told me his mom and dad never discussed finances in their hosehold. At least not in front of him and his siblings.
 
The great thing about him was when i told him about these thing that needed to be done he was interested on how they worked (can say eager because he still was a silly college guy). Since then a number of years have passed and he has grown up a lot and now we have a great outlook on our finances.
 
I still do the monthly bills and the tax forms but he is there along side me asking questions. He even sat through lessons on how to pay our bills in the event that I was unable to do it. He knows where all the important paper work is and where to find all the numbers. I am very proud of him and all the progress!
 
As for having a bad CR he actually didn't have one. He had one credit card from a jewler in good standing (he used it to buy a mothers day ring for his mom while still in high school she showed me it it was so cute) and a couple of medical collections.
 
As for asking to see a future spouses CR I would say definatly YES! It is in both party's best interests to be open and honest about something that could potentianaly derail any future plans. Plus when you are both sitting there looking over the reports you can get a feel about how he/she would be at handeling future money matters. If they are not willing to see how this is an important matter then maybe then you should really really think about what you are getting into.
Message 48 of 50
Anonymous
Not applicable

Re: Would you want a credit report when considering marriage?



wmarat wrote:
My son is 7 y.o, so when his time to propose comes it is going to sound like this:
OK, hon, I am going to propose, please have your lawer send following documents to my lawer:
1. Updated credit report with FICO scores, you can pull from myfico.com
2. Genetic scan
3. HIV testing
4. Bank statements for at least last 3 years
5. List of assets
6. List of debts
7. Genealogy tree
8. Physical of your grandparents, parents, siblings and yourself
9. Background check
10. Drug test
11. Signed prenup
 
Very romantic.


#12:  Pay stub.
 
My DF voluntarily offered this before we were officially "serious."  He wanted me to feel comfortable knowing how much he made, how much he put in his 401(k), and about the loan he took from his 401(k).  None of these would have shown up on a credit report.
 
Message 49 of 50
marty56
Super Contributor

Re: Would you want a credit report when considering marriage?

#13 full scope poly with enchanced dating questions.
#14 Ask how many times they have been on the Maury/Jerry Springer show.
 
1/25/2021: FICO 850 EQ 848 TU 847 EX
Message 50 of 50
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