Joint Bank Account?

[HaPPyFeEt 0]

Do we really need a joint bank account to prove that our marriage is bonafide? My hubby filed for bankruptcy last year (and will last for more than 5 yrs) that made us not to open a joint account instead he made me open my own and he also has a separate bank account.

.And from what we heard, if we have a joint account and want to purchase for example a house in the future and have it under my name since I will start from scatch...i would 90% be denied also when they do a credit check becuase they would find out my husband has a bad credit....so what are our options? we are living under one roof, we have utilities in both our names, we are planning to have kids in 2 yrs (since we are still young and planning on travelling and enjoy each others company).

[MMW 2]

A bankruptcy does not hurt your credit forever. It is a chance to start over in your husbands credit. He should start to rebuild his credit with small purchases on credit and make sure he stays current on those payments. and all your bills. he can rebuild his credit easily if he does it slowly and makes sure he doesn't default on credit loans in the future. You said you are both young that's good it will give you time to build credit slowly. Just stay focused on your bills and pay them when they re due.

[HaPPyFeEt 0]

A bankruptcy does not hurt your credit forever. It is a chance to start over in your husbands credit. He should start to rebuild his credit with small purchases on credit and make sure he stays current on those payments. and all your bills. he can rebuild his credit easily if he does it slowly and makes sure he doesn't default on credit loans in the future. You said you are both young that's good it will give you time to build credit slowly. Just stay focused on your bills and pay them when they re due.

Yes thats what we're doing right now. building our credits together. But im just concern when the time comes for our AOS interview...do they really look for it? if so will our explanation be valid for them. We dont want to give them the impression that we cannot financially support each other where infact we do. He has has a good paying job. Tha bankruptcy had nothing to do with my hubby not paying or loaning money. Actually he had a car that he sold to his friend who had a fatal accident and died.The car was still under hubby's name. =(

[MMW 2]

well as far as that goes they will be more interested in what you have done since the bankruptcy. A credit report after the incident showing improvement will go a long way in building confidence in your improving credit situation. Just focus on things that will raise his credit score since that date.

[txladykat 1]

As far as purchasing a home, his bankruptcy only affects the credit rating if you include him in the application. You can purchase a home with only your credit, but you won't be able to use his income to qualify for the loan. It has usually been the rule of thumb that credit is easy to obtain shortly after filing bankruptcy...and that used to be true, but with the economy and tighter credit lending, it will be much harder to do, but not impossible. You will of course pay a higher interest rate to offset the lower credit rating.

Joint bank accounts....its not mandatory, only a suggesion for proving bona fide marriges.