Every consumer who makes short research on the state of bank debts in our country can conclude that serious problems arise even from this brief review.
This situation can be explained simply by the increasing habit of spending more than purchasing power, but the results of this situation are interpreted differently in the eyes of banks.
Under the current market conditions
The risk is taken by credit and consequently, every lender bank increases day by day, therefore, precautions have been taken not only with interest but also with various collaterals. These guarantees include mortgage, blocked, etc. it can be either a guarantor or a spouse signature.
In addition, everyone who is married, especially mortgage loan, needs to get a signature from their spouse in order to benefit from most loan products. Because, by law, debt is also binding for the family.
The fact that the credit rating or the spouse’s financial relationship with the banks can also be binding is closely related to the type and total amount of the loan to be withdrawn. So Can I Get Loan Due To My Wife’s Debt? It would be wrong to answer the question as yes or no in one session.
If a mortgage loan is to be withdrawn, the spouse’s credit rating is an obstacle to withdrawing a loan, but depending on the amount and maturity, an inquiry on the spouse’s credit rating may not be made for the need or car loan.
Will My Wife’s Credit Rating Decrease My Credit Rating?
If you are not a guarantor for the credits used, the low credit rating of your spouse will have no effect on your credit rating. As it is known, guaranteed loans require being responsible for the payments in question as much as the person using the loan.
Can I Get Low Credit For My Wife’s Credit Rating?
If the spouse’s credit rating is low, a household income survey is carried out before allocating credit. Here, the income, financial status of the spouse and the person applying for a loan and the relationships with the banks in the past are checked. Financing can be allocated without any problems if the monthly installments arising from the loan to which the application is transmitted are affordable.
However, if there is not much difference between monthly income and the amount of installments to be paid, the loan will not be approved most likely. However, if the spouse’s credit rating was high, there would be a higher probability of approving the related loan application, even though there was no significant difference between income and monthly installments.
Spouse in Legal Proceedings
The person who will apply for a loan regarding the debt of the spouse under legal proceedings also encounters various problems. Especially, housing and auto loan applications can be rejected even for this reason, but it may still be possible to allocate a small consumer loan.
Common Credit Rating
Banking records of every individual living in the household are kept and kept. In this context, when a loan application is made, the financial background and monthly income of everyone living in the household are calculated and the monthly income of the household is compared with the monthly installment amounts arising from the loan application.
If there is a serious difference between monthly income and loan installment amounts, the low credit rating of the spouse will not have a major negative impact, and the requested loan will be collected in a short time. However, if possible, it is useful to avoid income and information statement of the spouse with a low credit rating as much as possible.