I have added up most of my credit cards and loans and its going in the 30 thousands do you think there is a possibility to finish paying all this off before you get married or will this involve spouses anyhow would you tell your spouse of it before getting married
2007-03-15 12:27:21 · 4 answers · asked by lizziemoffles 4 in Business & Finance ➔ Credit
wow! thought i had probs! thanks for cheering me up. oh an no it will take decades to pay them off!
2007-03-15 12:32:24 · answer #1 · answered by Anonymous · 1⤊ 0⤋
The length of time it takes to pay if off depends on how much you make and how dedicated you are in paying it off.
For some people it can take a month or less to pay, for others it can take years.
If the debts are paid before marriage, the future spouse really does not need to know. If the debts would be brought into the marriage, the future spouse should be aware of it. < just my opinion
2007-03-15 19:53:23 · answer #2 · answered by echo 7 · 1⤊ 0⤋
How soon do you want to get married? I recommend that you see a reputable credit counselor. They may be able to negotiate some of these bills down to a manageable size. Then make sure you make your payments on time and do not incur more debts. Cut up all but one of your credit cards and make that one difficult to access. It is only to be used in an emergency. Stay out of malls and away from web sites that tempt you to spend. And just in case you do get married before this is finished, your fiance should know about it.
2007-03-15 22:38:09 · answer #3 · answered by babydoll 7 · 1⤊ 1⤋
As long as the loans are in your name before you get married, they remain your debts... technically a mortgage is debt, but it's an equity-building debt. Student loans tend to be low-interest (and the interest is tax-deductible) and are an investment in your future.
I'm not in debt yet and hope to never find it necessary to go into credit card debt (I try to keep more than my credit limit in a savings account). I am trying to save for the down payment on a house, so that I would be in debt for the remaining portion of the mortgage... but I'm hoping to have a reasonable monthly payment.
2007-03-15 23:41:41 · answer #4 · answered by Anonymous · 1⤊ 0⤋