Obviously, when they choose to wed, Michigan couples hope for the best possible Happily Ever After. Of course, most people understand that nothing is ever perfect in life. And there are ups and downs in every marriage. However, married couples can avoid a lot of trouble if they are on the same page with finances and credit scores. Unfortunately, money and credit problems cause a great deal of stress in Michigan marriages. This is why, before tying the knot, couples should create a plan to guard themselves against heavy debt and credit score damage.
How Michigan Couples Can Create a Plan to Keep Debt Under Control and Credit Scores High After Marriage
Most Michigan couples on the verge of marriage share nearly everything in life. Yet, they may not talk about money and credit as much as they should. Instead, they just assume that everything will work out. Yet, unless they work together on these issues, they run the risk of accumulating too much debt, and damaging one or both or their credit scores. Here are a few tips on how newly married couples in Michigan can avoid both financial and credit harm.
Openly discuss your past experiences with finances and credit.
Even if you’ve made a few mistakes in the past with credit cards, loans, or cash, it’s important to come clean with your partner about everything. In fact, it is even more crucial for Michigan couples to discuss weaknesses than strengths when talking about finances and credit. This way, you and your spouse-to-be can talk about what you’ve learned from your errors. This kind of honesty also leads to discussions on how the two of you can protect your credit scores and bank accounts by not falling back into irresponsible behaviors.
Set ground rules about spending and credit card use.
Generally, romantic couples who intend to spend the rest of their lives together don’t want to dictate terms and conditions to each other. However, determining rules that you both agree to follow isn’t the same thing. Yes, as individuals, consumers in Michigan and throughout the country typically like their independence. Yet, once two individuals decide to share their lives, their actions inevitably have an effect on the other person in the relationship. So, plan out a realistic, shared household budget and agree to stick to it.
Don’t open secret accounts or try to hide large purchases.
Recent surveys reveal that a lot of Michigan consumers feel that financial infidelity is even worse than physical cheating. If your partner opens up a secret credit card, or makes a significant purchase without your knowledge, it may feel like a huge betrayal of trust. It may even lead you to doubt other things in your relationship. So, even though it may seem harmless at first, don’t open a credit card account or spend a lot of money on a single item without first discussing it with your significant other.
Get professional help if you need it.
Often, Michigan couples who are engaged to be married really benefit from the advice of a professional financial planner. It isn’t that you are incapable of making your own plans and decisions. Sometimes, though, an objective person with wisdom to share can make you see things from a different perspective. Besides, you should welcome any extra assistance with future financial stability and credit score success.
Remind each other to regularly check credit reports.
Finally, it is very important for newlywed Michigan couples to keep tabs on their credit reports. Of course, married people retain their own, individual credit reports and credit scores. However, if you plan to make a big purchase together later – such as buying a house – it is good to know where both of you stand. Also, because creditors and the credit bureaus frequently make mistakes with consumer information, errors often turn up on Michigan credit reports.
Sadly, many of these credit report errors are significant enough to damage Michigan credit scores. So, take advantage of the right you have through the Fair and Accurate Credit Transactions Act (FACTA). Go to www.annualcreditreport.com every 12 months, and request your free annual credit reports from TransUnion, Equifax, and Experian.
Then, while reviewing your credit reports, if you see that mistakes and errors have brought your credit score down, contact Credit Repair Lawyers of America in Michigan. Our credit pros will handle the entire dispute process for you, saving you time and frustration. Plus, you’ll get access to an experienced credit attorney who will do whatever it takes to get you clean credit reports for FREE.
The Free and Legal way to Get Better Credit in Michigan
Don’t let errors on your credit reports bring your credit score down. At Credit Repair Lawyers of America in Michigan, we’ve been cleaning up credit reports for consumers since 2008 for free. How do we do it? All of our fees come from the defendants in cases that are settled. This is why our clients pay nothing for the work we do.
Let’s start the conversation about what we can do for your credit. Set up your free consultation today by calling Attorney Gary Nitzkin at (248) 353-2882 or contact us on our contact page.
For more information about Free Credit Repair, please visit https://www.creditrepairlawyersam.com/michigan/credit-repair/.