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BeardyMcBearderson

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Is it advisable for my wife to take out a loan to pay my credit down to increase my credit?
My wife's credit score is Much (excellent) better than mine (very poor). I don't owe much, roughly 2,000 to various businesses. Would it be a good idea for her to take out a personal loan to pay off my debts so we can start increasing my score and only have one payment a month to get everything down? We both make good money, so it isn't a financial issue to pay off my debts over time, it just seems like a better idea to pay them all off now to increase my score sooner (So we can qualify for a home loan), than slowly pay them off one at a time, from month to month.

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If you both make good money, getting two thousand dollars paid off shouldn't be too difficult without getting a loan. While getting the loan in your wife's name and paying off your debt to increase your scores quickly, it will cause a little damage to her credit for her opening the new loan. Your best bet is to get this debt paid off without getting a loan. Pick up some extra hours at work, find additional part time work elsewhere, sell things you don't need, set a budget for the next couple of months and cut some costs elsewhere to get this debt knocked out.

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