Is it true that when I marry my fiance we'll share the debt he incurred before the marriage union? My fiance has a sizeable amount of debt in student loans and credit cards. What would happen if we got a divorce later on and he still had a lot of debt that he incured himself? Would I be partially responsible for paying it off?
2007-05-17 07:24:56 · 15 answers · asked by cotton~candy 4 in Family & Relationships ➔ Marriage & Divorce
not necessarily. his debt is his debt prior to marriage.
still his debt afterwards. any debt incurred after the union is
both of your debt. if you divorce, its still his debt..that which he incurred prior to marriage, unless you and he were in a
lengthy relationship such as common law and say the debt was a car and it was used by you primarily for example it could be argued that is is also your debt.
2007-05-17 07:30:46 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Not a simple question to answer.
To start with, I think he has a right to know you're considering divorce before even getting married
If you divorce, his prior debts go with him. Debts you incur jointly remain joint debts.
However, if he defaults on his repayments whilst you're married, any assets of his that are secured against the debt *could* be obtained to repay them, even if they're owned jointly with you. Technically his creditors can't take your stuff, but it can still be stressful to get a bailiff to prove that the car in the driveway belongs to him.
If he dies, his estate becomes liable for his outstanding debts. So make sure he has plenty of life insurance to cover both those and your lifestyle before hitting him over the head with a frying pan :)
2007-05-17 07:56:34 · answer #2 · answered by Ian S 3 · 0⤊ 0⤋
no you have no responcibility in those debts that occured before yall got married. If you use his credit cards after you get married and get a divorce you may be held liable to pay the debts because your name was signed. If you get a car and he co-signs (or visa versa) you could be held responsable. Do you get what i am saying? I hope i'm not confusing you. But, you have no obligations to the debts that he had before the marriage. Only after.
2007-05-17 07:32:27 · answer #3 · answered by Anonymous · 0⤊ 0⤋
No, in general you will not be liable for debt incurred before the union, but this will adversely affect your credit. Why not get him to sign a prenup?
2007-05-17 07:30:53 · answer #4 · answered by John Timothy 5 · 0⤊ 0⤋
If the credit is in his name you are not responsible. But disucss this with him in advance. This is not a show stopper. My wife and i had the same issue. we are now debt free and very very happy. :-)
2007-05-17 07:28:11 · answer #5 · answered by flyfish_777 4 · 0⤊ 0⤋
His debt will become your debt. Just wait and see, sister.
2007-05-17 07:34:30 · answer #6 · answered by Anonymous · 0⤊ 0⤋
it is true that when you marry,you marry into debt.........
maybe you should have him pay off all his debts before you agree to marry him.........then you don't have to worry about the second part of this question.........
2007-05-17 07:29:22 · answer #7 · answered by moi 3 · 0⤊ 0⤋
if this is on your mind I think your not ready to marry the guy
not even married and already thinking divorce
2007-05-17 07:28:49 · answer #8 · answered by Mr nice guy 2U 5 · 0⤊ 1⤋
you need to talk to a lawyer on this matter I'm not sure,and I would hate to tell you something wrong.
2007-05-17 07:30:47 · answer #9 · answered by heavenlli_61 5 · 0⤊ 0⤋
Aren't his prior loans associated with his ss# and not yours?
2007-05-17 09:01:32 · answer #10 · answered by Chloegirl 2 · 0⤊ 0⤋