Often, after marriage, many spouses are all too happy to hand over the financial responsibility to the spouse that may be more “money savvy” or detail-oriented. Many spouses admit they don’t really want to know the details. This is a big mistake that could lead to bad credit repair. Knowledge is power and many a gal (or guy) has been blindsided by a bankruptcy due to a spouses over-spending or pre-marital debt. Rebuilding credit after bankruptcy or other major financial set-backs can be catastrophic and take years. Your best bet is to be proactive. Both partners should look at monthly bills, statements, in-goings and outgoings on a regular basis. If you are fixing credit, consider contacting a reputable credit repair services company like Vitesse Financial.
February 3, 2010
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