BiPolar and Credit

[hawaii]

hawaii, Hello, I have been reading as much as I can lately about credit to get up to speed as quick as I can but maybe someone has some advice out there that can help. Last August I found out the wife was Bipolar. The savings we had didn't exist same with IRA's and mutual funds. She refinanced the house using a power of attorney that was prepared to cover any problems while I was deployed. She has opened several accounts used them and then paid infrequently or abandoned them for collection. She is now receiving help from two doctors and is doing very. Being in the Navy, deployed most of the last ten year it made sense she handle the money and it sounded like we were doing great. Long story short is there any legal recourse to a credit reporting agency as to a spouses mental health and what has transpired in the past. Can anything be removed or fixed in anyway due to her illness? I'm trying to purchase a home and my credit score is to low to qualify. We have money and I've paid everything off, but the score is so bad I can't get a loan. What's the fix?

[xylene]

Can anything be removed or fixed in anyway due to her illness?

Thats extremely unlikely. If it were possible, many consumers would.

I'm trying to purchase a home and my credit score is to low to qualify.

You can do it. The terms are not as great, but you CAN find a lender.

We have money and I've paid everything off, but the score is so bad I can't get a loan. What's the fix?

Your score will improve with time and good use of credit. Flagging your credit as 'mental illness victim' is not going to happen and its not going to improve your credit score.

You should talk to a financial planner who has experience with couples who have had financial difficulty. Resources like that might be availible thru veterans support groups.

I am very glad your wife is doing better, but I also think (and you probably know this) that your short and long term financial planning decisions include addressing the contingencies should your wife's illness again become symptomatic.

Good luck.

[hawaii]

Thanks for the response. I'm with you on the don't sound like a victim. Pretty weak. I figure maybe there is something I haven't been able to find. The good thing is we didn't lose the house and nobody is really injured except for some retirement dates.