I'm getting married this year and I found out that my fiance has outstanding debts. Am I liable to this debt?

Question

My finace has debts and I would like to know if I'll be liable to his debts after we get married?

Answer 1

You effectively will be if your income & assets and his are blended. A prenup might isolate your assets and any income that you provide for. But if the debts are big and you need a prenup, you have other, much larger potential problems for which there is no effective protection. Take a long, hard look at the situation and its causes. This might not be the right union, at least until you learn much more about him.

Answer 2

First, I would be wary of marrying someone with lots of outstanding debts. It shows a pattern of poor money management-although sometimes life knocks you around. Have those patterns changed? Is this person gonna fly right or pull you under. Fighting of money will ruin a marriage quick. I married someone with lots of debt. They basically spend, spend, spend. It drives me crazy and is one of the biggest problems we have to overcome.

That all being said, NO. You are not responsible for someone elses debt. Even if you were married at the time, you would not be responsible unless your name is on the paperwork. Lots of people forget that a debt agreement is a contract that one enters into with a second party. Unless you enter into the same contract you don't exist. Now, that being said, if you put this person on your bank accounts, mortgages and other assets you may find creditors come after those assets. The thing to do is keep all that stuff separate until all creditors are paid off. With many Americans living the life of debt, this problem comes up often when marriage is pending. As long as you keep you assets separate you should be fine. But, reread paragraph number one. Have they stopped that bad behavior??? You need to sit down and have a very long and very serious talk about this before you link your existence with this person. They need to show budgets and a plan to get out of this dilemma. They need to be following this plan.

Answer 3

i think u can get an innocent spousal form or something since u had nothin 2 do w/ the debts. U should be alright tho...address this w/ him tho and get it out of the way of hte most important thing....ur marriage

Answer 4

If your married to him, and he can't pay they will try to get money from you

Answer 5

well do you love him with all your heart ?well if you do you should trust GOD to get you through everything and i see what your sayin is this marrige going down down the toilet well you have to figure that out !!!!!!!!!!!