The Kia car company has a commercial that says you can still get a car if you have had a divorce, declared bankruptcy, or even had repossession. I get how bankruptcy and repossession can lead to no car, but how can a divorce?
In single car households going through a divorce, someone gets the car and someone wears their boots out.
In a lot of cases a divorce leads to such ugly things as bankruptcy and repossesion. While divorce itself doesn’t necessarily cause bad credit, it is a result often enough that they felt obligated to include it in their list of naughty past offenses.
Also, many people lose half or more of thier household income in a divorce, so they are suddenly much less eligible for credit. After being turned down for a loan that you would have gotton pre-divorce, your ears are probably tuned to hear someone say that that won’t be a problem.
Also, many people with bad credit either 1) have bad credit because a former partner ruined it or 2) claim to have bad credit because a former partner ruined it. “My ex ruined my credit” is a graceful way for buyer and seller to move past the social awkwardness of having bad credit.
thats what prenuptial agreements are for , never marry without one
geepee, a prenup would neither prevent someone from ruining joint credit, nor stop an abrupt drop in one’s household income.
Hijack: If neither person has substantial assets/previous children etc., it may not be necessary.
Courts are happy to, in effect, supply an “off-the-rack” prenuptial agreement - i.e. a certain division of money, property, etc.
So I’m in Family Law (marriage, divorce, adoption, etc.) at a Catholic Law School. My prof, a priest, was grilling all the married or engaged (incl. me) students on whether they had a prenup. He gets to me:
Fr. O’Brien: [kdeus], you’re getting married?
Me: Yes, Father, this summer.
Fr. O: Do you have a prenup?
Me: I’m more in debt than she is, Father.
Fr. O: Good thinking.
Years of legal training requires me to say that if you think I’m your lawyer and this is your personal legal advice, you are wrong and probably should not reproduce.