Should I marry someone with debt?
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Should I marry someone with debt?
First, you can protect your credit and assets by not adding your name to your partner’s debt, “even if you view yourself as a financial team,” said Norris. You might want to help pay off those debts if the two of you decide that’s what’s best for your family. But on paper, the debt should belong to your spouse alone.
What happens if you marry someone with debt?
In community property states, you are not responsible for most of your spouse’s debt incurred before marriage. However, the IRS says debt taken on by either spouse after the wedding is automatically a shared debt. Creditors can go after a couple’s joint assets to pay an individual’s debt.
How does debt affect marriage?
Legally, debt brought into marriage is typically the responsibility of the person who incurred it. Also, if the couple chooses not to make payments on a certain debt, it will only affect the credit score of the spouse who brought it into the marriage.
