Fiance's Finances in Tatters... Estimated Recovery Time?

His credit history will remain his, and you, yours, even when you're married. Only joint accounts and authorized user accounts will show on both. Since his accounts have already been closed and he is paying, he's already on the road to recovery. Unfortunately, it's going to take some time. The negative marks will remain for 7 years. If he can re-open the one account, that will help. He needs to stay current and under the limit. As time goes on, his recent good practices will work towards lessening the blow of the older, bad habits. Once married, you may want to open a joint account, to help give him more credit options and more history. And your higher credit (I'm assuming), will help assist him in landing that new credit - there are no guarantees though in this environment. On your new account, make small, regular purchases and pay them off. This will add to the positive marks on both of your histories. Good luck.

I don't know what happens with your credit when you get married, but perhaps you can find out by looking at the FAQ of one of the three credit bureaus.

I cleaned up my credit. It had 2 charge-offs and no repossessions. The bankruptcy had probably already been cleared off. It didn't take any time at all. Repossessions are a different story; they are like bankruptcies, maybe even worse. You didn't say he had anything other than the 2 charge-offs that he's paying. My charge-offs were medical bills from a surgery. With that and a defaulted student loan, I spent $200 on a secured credit card, and suddenly, everybody wanted to give me a card, so I got one that wasn't secured, with a high credit limit and used that to pay off those 2 charge-offs. Within four months, GMAC required me to co-sign on a brand new truck for my partner, who simply had no credit at all. I don't know what my score was before, but at that time I think it was 611. But, of course, my credit got ruined again, which only took about a minute.

Bad credit will follow him for several years. At least it is good he is paying on the debts now. Yes, when you get married his credit will merge with yours, so if your thinking of a house - you may have some challenges. A lender will look at both your credit scores and history to decide if they want to lend you both money on a new home - that is why i use the word merge.

I'm not going to give you relationship advice. My wife and I have been married 23 years, dated 2. We are on the same page about money and always have been. Most divorces are caused by financial problems. I would try and make certain your both on the same page. I'm 45, retired and live with my wife on my ranch. I wish you luck.

Your credit reports will not comingle. And good for you for not having anything joint until you are married.

And good for you for planning ahead. According to what I read, money issues is a top contributor to divorce. Make sure both of you are on the same page financially before walking down the aisle.

You already do no longer desire to be in contact in his monetary duties... and he does not seem to care. money and monetary making plans are an excellent part of a marriage, and money consistently motives issues. in case you 2 can no longer artwork this out now, you're probable headed for many problems.... you are able to no longer substitute him yet you are able to urge him to commence working in the direction of getting his debt paid off. each youthful, engaged couple has lots to speak approximately formerly marriage, no longer purely funds.... plan forward.. and see in case you 2 can come to agreements approximately life and residing formerly asserting I DO