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If we get married does his debt effect me??

My boyfriend had TONS of debt. Like, bad! If we get married am I at all liable for the debt or effected by it?

 
sassy_brizzy

Asked by sassy_brizzy at 1:52 PM on Jul. 10, 2010 in Money & Work

Level 15 (1,835 Credits)
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Answers (15)
  • You will not be liable for his debt (unless you were a co-signer), but yes, it can affect you. Case in point: My husband had run into some rough spots long before we were married and had issues making his car payment. His car was paid off about 6 months after we got married, but the late payments still showed up on his credit report for like 5 years. Two years later, we're trying to buy a new car together. My credit is near perfect and his is mediocre, and because of that we were being offered not so great interest rates. Even though my credit was great, my income was just low enough to where I wouldn't qualify for the loan on my own.

    Just know that it might be a few years before you can get a new car or house.
    Journey311

    Answer by Journey311 at 9:06 PM on Jul. 10, 2010

  • Yes it affects you...taxes can be garnished,wages...credit to buy a house/car etc...
    I don't think you are liable to repay his debts only in his name but his credit score will have a big impact on a lot of things.
    bumblebeestingu

    Answer by bumblebeestingu at 1:54 PM on Jul. 10, 2010

  • if your name is on it yes, but then again once you get married whats his is yours, including his debt, I suggest take care of the debt before you get married, even if that puts the wedding back a few years, just a thought
    newmom092009

    Answer by newmom092009 at 1:57 PM on Jul. 10, 2010

  • It surely will affect you. While you may not be held legally liable(that law can vary, I think), you will have less to spend on rent, groceries, and entertainment than you would have were he debt free. If the two of you want to get married, it would be wise to wait until he gets out of debt.
    NannyB.

    Answer by NannyB. at 1:59 PM on Jul. 10, 2010

  • Yes it will. It's better that you take care of it now before you get married. Make sure your making a wise decision marrying someone that is so much in debt...because past behaviors determine future ones!!!!
    CAGirl4

    Answer by CAGirl4 at 2:11 PM on Jul. 10, 2010

  • Oh ya it sure does, I would not get married until ALL of his debts are paid off in full! His debt becomes your debt and you will be struggling financially.
    QandA

    Answer by QandA at 1:57 PM on Jul. 10, 2010

  • It will affect you...you need a great credit score to get a loan for just about anything these days, whether buying a house or car. The worse your credit score, the higher the interest rate. He will be able to put nothing in his name.

    momjoy1027

    Answer by momjoy1027 at 2:12 PM on Jul. 10, 2010

  • Oh I see their points with the credit
    mamaofficer

    Answer by mamaofficer at 3:44 PM on Jul. 10, 2010

  • live in sin, its better for you in the long run, marriage is only a piece of paper., not worth wrecking your credit for!!
    blue_glass_mama

    Answer by blue_glass_mama at 4:01 PM on Jul. 10, 2010

  • It will definitely have an effect on you, but your name won't be put on his past debt that I know of.
    Erin814

    Answer by Erin814 at 1:55 PM on Jul. 10, 2010

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