Should You Marry with Bad Credit or Wait?

Whether you should or shouldn't marry someone with bad credit is a personal decision that depends on your individual circumstances and values. Here are some factors to consider:

Shared financial goals:

If you have different financial goals and priorities, it may be difficult to reconcile them if one partner has bad credit. It's important to have open and honest conversations about your shared financial future and make sure you're both on the same page. Sit down and talk about desires and expectations for the future. Be sure to consider the big desires many couples want, like a home, automobiles, children, college funds, retirement costs and recreation/recreational vehicles.

Personal values:

For some individuals, having a partner with a poor credit score may go against their personal values and beliefs. It's important to reflect on your own values and beliefs and whether they align with being in a relationship with someone who has a poor credit history. It's just as important to communicate your values to your partner and attempt to find a compromise or solution.

Ability to work together:

If you're able to work together and support each other through the challenges of improving credit, then a relationship with someone who has bad credit can be successful. However, if you don't have a strong relationship dynamic, the stress and pressure of financial challenges could cause additional strain.

Should you wait until your fiance improves their credit?

Many couples may find it best to extend their engagement or hold off on engagement all together so they can take their time to repair one partner's credit. The good news is that you can also marry and continue to keep your finances separate. It's a myth that marrying someone with bad credit immediately lowers the other partner's credit. It only lowers chances of better rates and terms if you apply for lending together. If you already own property, marrying someone with bad credit won't change your rates. However, keep in mind that you cannot add your partner onto the title without their credit being considered. Most likely you would have to refinance.

Obviously, it would be better if both partners had good credit so they can apply together as that could allow for better rates and equality in ownership.

Reach Your Credit Goals Faster & Easier with a credit professional:

Credit professionals, like those at AIO Credit Rehab, can evaluate your and your partner's credit and design a custom plan to help you pay off debt, repair errors on credit reports and build good credit fast.

Ultimately, the decision of marrying someone with bad credit is a personal one that should be based on your individual circumstances and priorities. If you both are committed to working together and improving your shared financial future, then a relationship with someone who has bad credit can be successful. However, if the idea of taking on this financial burden is not appealing to you, then it's important to seriously consider whether a relationship with someone with bad credit is right for you.