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

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

Postby fearghall6 » Sat Feb 19, 2011 2:21 pm

I have medical bills from an injury. I have excellent credit and so does my husband. 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 bank loan and pay off all these bills. (The medical bills are in my name.) ( wife ).I don't 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 his name only. Will the bank still check MY credit? Will the late medical bills affect his 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 husband 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
fearghall6
 
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Will husband's medical bills affect wife's credit?

Postby bayne » Sat Feb 19, 2011 2:22 pm

You are unemployed so alone you will not get the loan. Your husband might get the loan in his name alone. You can not put in his name he will have to do that. Right now stop thinking of the credit and pay the bills off so you can start to recover especially if they have not gone to collections.

Insurance might depend on whose reports it hits if the insurance is in his name if there is even any insurance.
bayne
 
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Will husband's medical bills affect wife's credit?

Postby tedmond50 » Sat Feb 19, 2011 2:24 pm

I believe it depends if you live in a community property state. If not, they will not check your credit if your husband is the only one on the loan. If in a community property state they may check your credit whether or not you are on the loan with your husband.

Medical bills need to be removed from your credit report when they are paid, due to HIPAA and privacy concerns, so they will hurt your credit badly until they are paid off, if they are reported at all. If you made payment plans with them there is a good chance they won't be reported at all as long as you keep paying.
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