I am financing a boat loan. I have become handicapped, and can't afford the boat anymore. If I give the boat back to the bank, will this affect my wife's credit situation or just mine? The boat loan is in my name. I tried selling it.
Your wife's credit record stands on its own. If she was not involved as a cosigner or guarantor on your boat loan, your record on that loan should not affect her credit history. Of course, if you and your wife apply for credit jointly, your record will be considered in the lender's decision.
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Your wife's credit record stands on its own. If she was not involved as a cosigner or guarantor on your boat loan, your record on that loan should not affect her credit history. Of course, if you and your wife apply for credit jointly, your record will be considered in the lender's decision.
