Will husband's medical bills affect wife's credit?

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Old Feb 18th, 2011, 06:18 PM   #1
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Confused Will husband's medical bills affect wife's credit?

Florida...I have medical bills from an injury. I have excellent credit and so does my wife. We cannot pay the full amount of the medical bills so we are making monthly payments. I know by doing that it will bring my credit score down but I have no choice. I have only been sent to collections by 2 of the bills so far ( got them in the mail today )and I am trying to make arrangements with the other ones.
We want to apply for a loan and pay off all these bills. The medical bills are in my name. ( husband ).I dont want the bank to check my credit since it is probably getting bad as the months pass. I was thinking about putting the loan in her name only. Will the bank still check MY credit? Will the late medical bills affect HER credit too?
I must add that I am still unemployed at the time. But hope to be back to work as soon as possible.( I don't like my wife having to bear the whole financial burden.)
PLUS,, If these bills will affect our credit..How bad will it affect it by paying these bills a little at a time? Will our credit score drop drastically?
Sorry for so many questions.. I just want to know where I stand before going to the bank on Monday. Thanks
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Old Feb 19th, 2011, 12:34 AM   #2
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Default Re: Will husband's medical bills affect wife's credit?

I wish to inform you that your spouse credit rating will not affect your wifes credit score. In this regard the debt is your personal debt and not a joint debt. Your credit score will only be affected. Your wife score will be affected if there is some joint debt which has not been paid.

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Old Feb 20th, 2011, 11:01 AM   #3
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Default Re: Will husband's medical bills affect wife's credit?

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Originally Posted by notsmilingsam View Post
Florida...I have medical bills from an injury. I have excellent credit and so does my wife. We cannot pay the full amount of the medical bills so we are making monthly payments. I know by doing that it will bring my credit score down but I have no choice. I have only been sent to collections by 2 of the bills so far ( got them in the mail today )and I am trying to make arrangements with the other ones.
We want to apply for a loan and pay off all these bills. The medical bills are in my name. ( husband ).I dont want the bank to check my credit since it is probably getting bad as the months pass. I was thinking about putting the loan in her name only. Will the bank still check MY credit? Will the late medical bills affect HER credit too?
I must add that I am still unemployed at the time. But hope to be back to work as soon as possible.( I don't like my wife having to bear the whole financial burden.)
PLUS,, If these bills will affect our credit..How bad will it affect it by paying these bills a little at a time? Will our credit score drop drastically?
Sorry for so many questions.. I just want to know where I stand before going to the bank on Monday. Thanks
Florida is not a community property state and it won't affect your wife's credit.

If you've been making monthly payments that have been negotiated and agreed to with the medical facility, there should be no reason it's ending up on your credit reports(s). If 2 have gone to collections, that means your credit is already in trouble.

The bank won't check your credit if the application is in your wife's name only.
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