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Is there any necessity to combine our financial accounts?

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Is there any necessity to combine our financial accounts? Me and my huband don't have any joint accounts but we pay out bills monthly. I have heard that it helps when you have joint accounts to take out a loan.

Yes, you are right, a joint account helps you to borrow more money. But, remember, It is a serous step since both of you are liable for the loan.

If your partner doesn’t pay up, you could end up with a lot of debt liability. One more thing, once you have a joint account, your credit file will be linked as well.

Sub: #1 posted on Thu, 02/15/2018 - 18:57

sanderspatricia29 sanderspatricia29

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What state are you in? Do you live in a community property state? In a community property state, both of you are equally liable for a loan, no matter who borrows it.

Sub: #2 posted on Fri, 02/16/2018 - 13:02

(Posts: 3937 | Credits: 398.71)

Ofcourse, joint account helps to get approved easily. But there are other aspects too that will influence the loan. Are you living in a community property state?

Sub: #3 posted on Mon, 02/19/2018 - 10:16

tiarajoseph11 tiarajoseph11

(Posts: 317 | Credits: 44.37)

A joint account helps to get approval for a loan provided both of you have good credit record. Anyone of you not having a good credit record may make it difficult to take out a loan at suitable terms and conditions.

Sub: #4 posted on Thu, 02/22/2018 - 19:30

Good Nelly Good Nelly
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