I had always heard, "Yes they can," but now I am wondering if this is true!! Here's the history behind this question: I recently received a small inherritance, and put about $20,000 of it toward paying off his bad debts in collection in hopes that we could obtain a mortgage for a rental property together. This has always been my dream. However, he still has no credit while I have moderate to good credit, and all the mortgage companies we have talked to won't consider putting him on the mortgage. So I feel like spending all that money was worthless. I should have used it for a down payment on rental property. Now we are facing a $9000 bill from his knee surgery. What is the point of paying this???? If it goes on his credit and he just isn't interested in paying it off?? Will it effect me or my credit or possessions (I own a house). We live in a community property state so by marriage he owns the house too, but really I am the only one on the mortgage.
2007-03-12 21:19:35 · 4 answers · asked by Angie 4 in Business & Finance ➔ Renting & Real Estate
Can they put a lein against the house or ruin any chance of getting a mortgage for a rental property in the future? I am really tired of paying his bills because he really doesn't appreciate it anyway, and financially I want to get ahead. What is the right thing to do? Set up payments and pay this bill, or let him deal with his bad choices (he had this knee injury as a result of a dangerous sport)?
2007-03-12 21:21:29 · update #1
The "unpaid bill" in question is a medical bill for $9000. The hospital is trying to get him to sign up for a legitimate bank loan through a legitimate local bank.... otherwise it will go into collections at the end of March. I will be the one ending up paying the bill and I really don't want to spend the money, nor do I want to be responsible for something I think should be his responsibility. But on the other hand, I don't want to loose our house or affect any future mortgages I might be able to get.
2007-03-12 21:49:13 · update #2
If you live in a community property state, yes you can be held responsible. In other states it depends if the debt incurred by the spouse was considered for the household. It is worth it to continue paying the debt because the debt could be considered joint and it will follow you even if you get a divorce. Only a steady re-payment of debt will increase you credit rating
2007-03-12 21:35:58 · answer #1 · answered by kgee 4 · 0⤊ 0⤋
If you are legally married, you are jointly and severally liable for each other's bills incurred during your marriage. The point of paying your bills is that you accepted goods or services on credit with the implicit promise to pay; if you had no intention to pay, don't have the surgery.
2007-03-13 08:48:47 · answer #2 · answered by kingstubborn 6 · 0⤊ 0⤋
I believe the specifics of it depend on where you live. I know that where I live, medical bills cannot legally affect your credit rating, and are also forgiven after a period of 5 years.
I would be wary of them trying to put a lien on your house, that's the kind of trouble you just don't want.
It's none of my business, but if you really want to let your husband "wallow in his own bad choices," perhaps you should make it clear to him that you are tired of taking care of him and that if he doesn't take care of his own bills that you'll leave him.
I apologize if that last suggestion was out of place. Otherwise, I'm out of information to offer you. I hope that was helpful.
2007-03-13 04:27:07 · answer #3 · answered by Anonymous · 1⤊ 0⤋
depends on what "type" of account was opened....you do not specify...if it is an individual account...credit.store card...in his name it will not have any effect on you...a "joint" account usually like a Mortgage will affect your credit as well as his...it will not come off of your credit report for up to 7 years....good luck
2007-03-13 04:29:16 · answer #4 · answered by Michael K 5 · 0⤊ 1⤋