Filing Unemployment affect on Taxes and credit rating?
If a couple have joint bank account, joint credit cards, files joint taxes and then because of job loss, one of them files for unemployment. Will it affect credit ratings, What happends when they file taxes for the year when filed for unemployment? Will it affect credit history of both or just the person who filed for umemployment? Remember both file taxes together, have joint bank and credit account? Will the other partner be denied credit(or a higher rate) if applying for Car loan next year or home loan in the next 3 to 4 years? Thanks guys!
Public Comments
- No affect on credit rating for either person. Only affect credit rating if you don't pay bills! Some states do tax unemployment, others do not, CA does not tax unemployment so there is no state tax on unemployment income. I believe the federal does tax unemployment as income so they get's their share no matter what.
