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Wisconsin’s Marital Property Law

The Credit-Granting Decision

Adobe PDF Document  Section 766.56, Stats (PDF: external link). provides that, in evaluating the credit worthiness of a married person, the creditor must consider all marital property available under Adobe PDF Document  sec. 766.55(2)(b), Stats.  (PDF: external link) to satisfy the obligation. This means, for example, that a spouse who does not work outside the home may claim the non-applicant spouse’s income and assets, to the extent they fit the definition of marital property, in applying for credit. Any financial organization or other credit granting commercial institution that violates this section may be fined not more than $1,000 Adobe PDF Document  Sec. 766.56(4)(a), Wis. Stats. (PDF: external link).