Will a couple with credit problems trying to adopt a child run into problems because of their credit issues?

Question

Would they have a better chance trying to adopt in Russia?

Answer 1

most likly good luck

Answer 2

Domestic or international, if you have credit issues, clear them up before you apply for adoption. It is a very important factor with and agency's consideration. They want to be sure that you are responsible enough, and financially sound to raise a baby. My advice is to start clearing up that debt now. Go to a counselor, consolidate, downsize, whatever, to have a "track record" of your efforts on paper, so that you can present this at the time you are being considered.

Answer 3

I don't know about whether it would be easier to adopt from somewhere outside the US with this issue. I also don't truly think this will be an issue in adoption within the US but, I say that with a couple of assumptions on my part. Adoption agencies want to make sure that the child will be placed with a family that can financially support them on a long term basis. Other than that I don't think they will particularly care if you have bad credit. I guess that may depend though n how bad your credit is and perhaps why it is bad. Agencies are not looking for perfect families or expecting to find ideal situations --we all have our flaws. If your credit is bad because you are ADD and can't seem to pay your bills on time, I don't think an agency is going to care. If you owe $400,000 to a bookie because you have a gambling problem that you refuse to get help for, that's a different story. You don't need to own a home or even a car to be able to adopt a child. You don't need to have a lot of money. But you will need to show the agency that you can afford to raise a child and that it will be in a healthy environment.

Answer 4

ALL legitimate adoption agencies will do a financial analysis on you.  If you've got the $20k or $30k to adopt, why not use that money to fix your credit & then just adopt through the government?  If you're not financially stable now, how do you think you can care for a child?

Part of being a good parent is doing what's best for your child, and I'm not sure having credit problems will afford you and your baby many options.

Answer 5

I believe most agencies will do some research on your financial situation simply because of the costs associated with adoption.  I would recommend speaking to a reputable adoption agency in your area that can tell you what their requirements are.  If you are not able to adopt through an agency, you may also want to contact your local Dept of Human Services (Children & Youth Division).  The foster care / adopt programs may not be as "strict" with the credit reports as agencies.

Good luck to you.

Answer 6

maybe because it shows lack of responsibility and inability to get what you will need for the baby by relying on credit.

Fix your credit first.

Good luck

Answer 7

All adoption agencies require a home study.  One aspect of a home study is a credit check.  Having a history of credit issues will not stop a couple from adopting.  Frequent or current credit problem will.

Answer 8

Yes the bad credit will present a real problem,and you have no idea the expenses of adoption a child from another country.If they have credit problems,they cannot afford to adopt a foreign child.They will have to make several trips to Russia.Not to mention all the red tape involved.

Answer 9

Yes, Your going to have problems.

Answer 10

I don't think credit is a deciding factor but I would clean my credit before getting into more debt.  Babies are cute but require alot of time and money then they grow up an need to go to college.

Answer 11

It would be harder to adopt internationally with a problematic financial situation, as you would not only have to please the homestudy agency but also meet the financial requirements of the foreign government.  It depends how current the problems are.  If you are currently deep in debt, you probably won't be able to adopt right now.  If it is in the past and your financial situation looks stable now, it will probably be fine.  Part of the homestudy for domestic or international adoption is a detailed financial analysis.  You will need to show that your income covers your bills and leaves you with enough money to support a child.

Answer 12

My advice is to work to get your credit improved before trying to adopt.  Adoption agencies will look at things like your debt to income ratio as well as how on time you are with your bills.  They do this as a measure of your financial responsibility and stability.

If you apply before you fix it and you're turned down, you'll increase the chance of being unable to adopt in the future.  It is a common question on adoption applications, "have you ever had an application to adopt turned down or rejected?"  So being turned down now might harm your chances of a future successful adoption as well.