The answer to your question is almost certainly NO. To pull a consumer credit report, you must have a permissible purpose. A spouse cannot authorize the pulling of the other spouse's credit report.
The Fair Credit Reporting Act (FCRA) has a strict limit on who can check your credit and under what circumstance. The law regulates credit reporting and ensures that only business entities with a specific, legitimate purpose, and not members of the general public, can check your credit without written permission.
Visit Annual Credit Report.com. This service allows you to obtain a free credit report from each of the three major credit bureaus (Equifax, Experian and TransUnion) once a year. You can use the links at this site to get a free copy of your spouse's credit report. Enter the proper identifying information.
Current or potential creditors — like credit card issuers, auto lenders and mortgage lenders — can pull your credit score and report to determine creditworthiness as well. Credit history is a major factor in determining (a) whether to give you a loan or credit card, and (b) the terms of that loan or credit card.
According to the federal Fair Credit Reporting Act, only those with a legitimate need can request – and obtain– a copy of your credit report. However, not all of them need your permission to view your credit reports. The great thing about your credit reports is that they show you who has accessed them.
The only way you can legally pull someone else's credit report is if you have what's referred to as Permissible Purpose. Permissible Purpose is a term straight from the Fair Credit Reporting Act and it defines the conditions under which a credit reporting agency may furnish a credit report.
Do You Inherit Debt When You Get Married? No. Even in community property states, debts incurred before the marriage remain the sole responsibility of the individual. ... If you signed up for a joint credit card before getting married, then both spouses would be responsible for that debt.
You are generally not responsible for your spouse's credit card debt unless you are a co-signor for the card or it is a joint account. However, state laws vary and divorce or the death of your spouse could also impact your liability for this debt.
Credit scores are calculated on a specific individual's credit history. If your spouse has a bad credit score, it will not affect your credit score. However, when you apply for loans together, like mortgages, lenders will look at both your scores. If one of you has a poor credit score, it counts against you both.
As mentioned previously, a permissible purpose is established when the person obtaining the consumer's report “intends to use the information in connection with a credit transaction.” This section specifically references a single credit transaction and should not be interpreted to allow for multiple uses in connection ...
According to the Fair Credit Reporting Act, which regulates the laws governing consumer credit reports, any business can access your credit history without your permission provided the business has a valid "permissible purpose." The FCRA notes that one such permissible purpose is to review your credit information in ...
The Effect on Your Credit Score
Still, if you don't recognize an inquiry it can be an indication of other problems (such as identity theft), so always follow up to make sure that a credit pull was authorized. If it was not and it should have been, you have a right to sue under the Fair Credit Reporting Act for damages.
You can qualify for a mortgage with your own income and credit merit, but it may be for a lesser loan amount because you can't count your spouse's income if they aren't applying for the mortgage with you.
Fortunately, your spouse's past credit history has no impact on your credit profile. Only when you open a joint account will any information be shared on both of your credit reports. However, when you want to buy a home together, your spouse's negative credit history could impact your mortgage rates.
Since California is a community property state, the law applies that the community estate shared between both individuals is liable for a debt incurred by either spouse during the marriage. All community property shared equally between husband and wife can be held liable for repaying the debts of one spouse.
a judgment creditor of your spouse can garnish your joint accounts, and. if you have your own separate bank account and a judgment is taken against your spouse, that creditor can also garnish your separate account to pay for your spouse's debt.
Financial infidelity happens when you or your spouse intentionally lie about money. When you deliberately choose not to tell the truth about your spending habits (no matter how big or small), that is financial infidelity.
Generally speaking, a debt that is is your name is your responsibility alone. Your spouse's account cannot be garnished in most circumstances, although exceptions may apply if you share a joint account or if the expenses leading to the debt were used for their benefit.
That means technically, either one can empty that account any time they wish. However, doing so just before or during a divorce is going to have consequences because the contents of that account will almost certainly be considered marital property. ... Funds in separate accounts can still be considered marital property.
If you decide to get a divorce from your spouse, you can claim up to half of their 401(k) savings. Similarly, your spouse can also get half of your 401(k) savings if you divorce. Usually, you can get half of your spouse's 401(k) assets regardless of the duration of your marriage.
“In general, debt collectors would only pull a credit report once, either at the time they receive the account or at the time they are negotiating repayment options such as a settlement,” says Nick Jarman, president and COO of Delta Outsource Group, and a Credit.com contributor.
Credit reports are typically only valid for 120 days. So if yours has expired, then the lender will re–pull your credit.