How to Ask Creditors to Disregard Your Spouse’s Credit History | Credit 101 Ep. 171

When managing joint finances or applying for credit, there may be situations where you want to request that creditors disregard your spouse’s credit history. Here’s how you can approach this process:

1. Understand the Implications

• Joint vs. Individual Credit: In most cases, creditors consider the credit history of both spouses when evaluating joint credit applications. However, some credit products or scenarios may allow for separate evaluations.
• Separate Credit Reports: If you want to exclude your spouse’s credit history, you must ensure that you are applying for credit in your name only or for products that don’t consider joint history.

2. Review Your Credit Reports

• Obtain Reports: Get your credit reports from the major credit bureaus—Equifax, Experian, and TransUnion—to review your credit history and identify any issues related to your spouse’s history.
• Check for Errors: Ensure that any discrepancies or inaccuracies are corrected before making any requests.

3. Request Individual Credit Consideration

• Credit Application: When applying for credit, request an individual credit evaluation if the lender allows it. Clearly indicate that you wish for the application to be assessed based solely on your credit history.
• Explain the Situation: In cases where it’s relevant, provide a brief explanation of why you’re requesting individual consideration, such as separation or a distinct financial situation.

4. Communicate with Creditors

• Contact the Creditor: Reach out to the creditor or lender to discuss your request. This can often be done via phone or through their customer service channels.
• Submit a Written Request: Follow up with a formal written request if needed. Include your personal details, account numbers, and a clear explanation of why you are requesting that your spouse’s credit history be disregarded.

5. Focus on Personal Credit Building

• Build Your Credit: Continue to build and maintain a strong credit history on your own. Ensure timely payments on existing credit accounts and avoid taking on new debt that could negatively impact your credit.
• Separate Accounts: If feasible, consider maintaining separate credit accounts to avoid mixing credit histories and to establish a clear distinction in your credit profiles.

6. Understand Credit Reporting Practices

• Joint Accounts: Be aware that joint accounts, where both spouses are named, will impact both credit reports. Disregarding one spouse’s history may not be possible in such cases.
• Authorized Users: If you are an authorized user on your spouse’s account, their credit history will be considered. Removing yourself as an authorized user can prevent their credit history from affecting your report.

7. Consider Professional Advice

• Credit Counselor: Consult a credit counselor or financial advisor if you need help managing joint credit issues or navigating requests for credit history considerations.
• Legal Advice: In complex situations, such as divorce or legal separation, seek legal advice to understand your rights and options regarding credit and financial responsibilities.

Conclusion

Asking creditors to disregard your spouse’s credit history can be challenging and is often dependent on the type of credit and the lender’s policies. By understanding how credit reporting works, communicating clearly with creditors, and focusing on building your own credit history, you can manage and improve your financial situation. If necessary, seek professional guidance to navigate these requests effectively.