We are getting ready to set a date for our marriage. I have near perfect credit (low 800 score) after filing bankruptcy years ago. My fiance has perfect credit as well but it is due for a big fall because she is giving back to the bank an apartment she can no longer afford. She actually mortgaged it under her name to help out a friend in distress (big mistake!) and when they could not pay she was stuck with it and its bills as well. Now it is worth less then the mortgage, she cannot rent it for enough to cover the costs and it is dragging her down financially so she decided to simply let it go as so many others seem to be doing. When we get married will this have any effect on my credit rating? Something we are both concerned about.

Richard

I think your future wife has just learned a rather expensive lesson. Surrendering the property will not only leave her with a shortfall which she will have to repay, details of the voluntary repossession will also be registered on her credit report. These details hang around for six years and are likely to put a large dent in her credit rating during that time. Most couples who live together take out some form of joint credit and link up their credit reports in the process. It is possible to keep your credit reports separate by avoiding any forms of joint credit and this is your only option if you want to keep your good score. Good luck.