2006-12-25 05:41:47 · 8 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Do a quick search and learn a little more about bankruptcy and then you must realize that all of those consequences will be attached to your financial future as well. If your credit is good, then you will have to forfeit some of the benefits of what you have earned in the way of credit capabilities for the marriage. The ultimate questions are why that person filed bankruptcy and whether or not the behavior that caused that filing is still there and jeopardizes your financial future. In a utopia, "money can't buy you love" and "all we need is love" are excellent concepts of happiness. In the real world, finances make up a great portion of the foundation of a relationship. If you cannot trust someone with your financial security, then you have to question if your relationship itself can survive. You are talking about your children's futures, your ability to own a home, have a car, even save for retirement. Make an informed and wise choice. Good luck....
2006-12-25 05:53:58 · answer #1 · answered by DinahLynne 6 · 0⤊ 1⤋
It depends on how long ago it has been since the bankruptcy was filed. Also, by filing bankruptcy it will cause some people to have to pay higher interest rates such as car and house loans. Most bankruptcies take from 7 to 12 years to get behind someone so that they can even make a house loan. Car loans can be obtained as much as the next day after closing out a bankruptcy, but you will suffer on the interest rate. Good luck.
2006-12-25 06:03:19 · answer #2 · answered by golden rider 6 · 0⤊ 0⤋
Anything applied for jointly would carry a higher risk of being denied, and if approved would automatically carry a higher interest rate.
As mentioned above, if the person you're marrying hasn't changed their spending habits that got them into bankruptcy then it could have profound long term affect on your future.
2006-12-27 07:28:38 · answer #3 · answered by dougzinboston 4 · 0⤊ 0⤋
there are really only 2 major consequences. all loans will have to be under your name (or jointly paying out the a$$ for a high interest rate). the possible risk of the person not changing the spending habits that got them into financial disarray which can have a severe effect on your financial future.
I would think about it for a long time.
2006-12-25 12:33:42 · answer #4 · answered by lv_consultant 7 · 0⤊ 0⤋
We're only talking about negative consequences? I guess losing your home would be the main negative consequences. If you're poor, you could always avail of government programs so losing your home and property is the worst that can happen in my opinion
2006-12-25 05:44:13 · answer #5 · answered by bz_sage_sedotes 2 · 0⤊ 0⤋
They can't get a mortgage until the bankruptcy has been lifted, nor credit cards, bank account loans etc, everything you can't do when you are declared bankrupt you take on all that too
2006-12-25 05:44:05 · answer #6 · answered by Anonymous · 0⤊ 0⤋
People who file bankruptcy are lazy slugs who will never change. So you are marrying a lazy deadbeat.
2006-12-25 05:46:23 · answer #7 · answered by Anonymous · 0⤊ 3⤋
lots of papers to fill out and money problems
2006-12-25 05:43:14 · answer #8 · answered by some guy 1 · 0⤊ 0⤋