getting married to a guy in debt

[giovannina]

What is the name of your state?What is the name of your state? new york
Am I liable for my husband to be debts once we get married? Does his debt effect my credit if we have no joint accounts and dont own anything with both our names on it?

 

[Dr. Phil]

Dear Giovannina

My first advice to you is "Get Real" I mean you must love this guy right? Sometime we need to put our financial concerns aside and step back and ask ourselves am I happy??? Are you Giovannina? What im trying to say is that you can teach an elephant to walk around in circles but you can't make an elephant enjoy it. In closing I will tell you this...hold your man close to you...enjoy life and love and the future you have together, life is to short. Hope this helps.

P.S. Check out the show today...its a very interesting one thats about a 15 year old that wants to kill her parents and 27 others...gotta go they're calling me to stage.

 

[giovannina]

okay? that didnt really help. I do love him with all my heart but I have also lived my life depending on no one but my self. No one to bail me out of debt. So that help me not make poor financial choices. Also the type of career I have, getting the job depends very heavily on your credit score otherwise your considered a high risk.
He hasnt has the same restrictions because his family is very enabling. He has a crutch and I dont. If he's financial burden now becomes mine there is no one to bail me out and all my hard work is out the window..
So please answer, Do I also marry his debt? or is there a way to keep that separate. Do his poor "past" choices effect my credit?
please give it to me flat out.

 

[LdiJ]

okay? that didnt really help. I do love him with all my heart but I have also lived my life depending on no one but my self. No one to bail me out of debt. So that help me not make poor financial choices. Also the type of career I have, getting the job depends very heavily on your credit score otherwise your considered a high risk.
He hasnt has the same restrictions because his family is very enabling. He has a crutch and I dont. If he's financial burden now becomes mine there is no one to bail me out and all my hard work is out the window..
So please answer, Do I also marry his debt? or is there a way to keep that separate. Do his poor "past" choices effect my credit?
please give it to me flat out.

As long as you keep everything completely separate..EVERYTHING..then your credit should not be effected by your marriage. That means no joint accounts or joint bills of any kind...not even utility bills. It can be difficult to keep everything THAT separate...but its the only guaranteed way to protect your credit. In fact, keeping your current name might even be wise.

 

[giovannina]

thank you for your response!

I have being told that im crazy by my fiance and others for thinking that getting married could effect my credit. Not too worry blah blah blah. but I guess I was right .. that you so much for your response.

 

[andih2o]

You helped me answer a burning question

undefined Oregon

Thank you for asking the question that I am trying to address in my own life.

I have been living with a fantastic man for 5 years who is very gainfully self-employed, but has procrastinated with taxes for quite a while. We want to be married, but he is under the impression that if we were, all of his debt would become mine as well. We have kept all of my assets in my name and have separate accounts, but the home we live in is mine. He does pay for at least 1/2 of all expenses, but I write the checks.

I want to put him on my medical insurance as a domestic partner, but it looks as though marriage would be easier.

Any thoughts?

 

[matti422]

I would be really, really careful with this. Debt can transfer into marriage in that creditors can still come after joint property to satisfy one party's debt. New York's law is vague on it (see 503 N.Y.S.2d 530). It might not be reported to credit agencies that way - check with credit agencies on that. I would recommend not getting married until his debts are paid off. If he can't pay them off, ask yourself if the marriage will be successful. A lot of divorces are over financial management.