debt and getting married

[ronnie718]

What is the name of your state (only U.S. law)? New York
First, some background:
My fiance and I have been together for 6 years. Prior to us getting together, he had acquired several thousands of dollars in debt. He had been with a consumer debt solution company, but was then laid off, and has since been on SSD.

The dilemma:
When we do get married, will I acquire the outstanding debt and have my wages garnished until his debt is paid off? Also, should he declare bankruptcy prior to us getting married to avoid this?

Thanks in advance!

 

[Antigone*]

What is the name of your state (only U.S. law)? New York
First, some background:
My fiance and I have been together for 6 years. Prior to us getting together, he had acquired several thousands of dollars in debt. He had been with a consumer debt solution company, but was then laid off, and has since been on SSD.

The dilemma:
When we do get married, will I acquire the outstanding debt and have my wages garnished until his debt is paid off? Also, should he declare bankruptcy prior to us getting married to avoid this?

Thanks in advance!

If you are intent on marrying this guy here are my suggestions:

1 - Do not, I said do not comingle your funds.

2 - do not ever put him on any credit card accounts as an authorized user. He is financially challenged and should not have access to credit cards.

 

[ronnie718]

Thats how it is. I have my own accounts, credit cards, etc. But you didnt really answer my question. He has gotten MUCH better about his financials, though.

 

[JETX]

When we do get married, will I acquire the outstanding debt and have my wages garnished until his debt is paid off?

No one can GUESS what might happen and surely some creditor might try to go after your funds for his debts. To minimize the chance of this occurring, or its success if tried, follow the advice already given by my esteemed colleague.

Also, should he declare bankruptcy prior to us getting married to avoid this?

That answer is far too complex for an online FREE legal advice forum... and certainly requires a DETAILED review of his entire financial standing. He needs to contact a local bankruptcy attorney who can review ALL the facts (not just a single sentence/issue as you have provided).

There are some serious consequences to filing bankruptcy and it is NOT something to be taken lightly.

 

[ShyCat]

When we do get married, will I acquire the outstanding debt and have my wages garnished until his debt is paid off?

No, your wages cannot be garnished for his debt. However, understand that when his wages are garnished or his bank accounts are levied, he'll have less money to contribute to your joint household and you'll be making up the difference. Also understand that you will live with unpleasant phone calls from debt collectors (and yes, they are allowed to speak to the spouse). His less-than-stellar credit report can affect employment opportunities and even the cost of auto/home/rental insurance. The sooner everything is paid off (which may require you to contribute to his debt payments), the better life will be. Go into this with your eyes wide open, or not at all.

 

[Artemis_ofthe_Hunt]

If you are intent on marrying this guy here are my suggestions:

1 - Do not, I said do not comingle your funds.

2 - do not ever put him on any credit card accounts as an authorized user. He is financially challenged and should not have access to credit cards.

Having been though this, I'd have to agree wholeheartedly.... Although I didn't ask the questions and even now almost a decade later am still paying for those mistakes.
I would add one other suggested stipulation though;

3- agree that the pre-martial debts be paid off prior to the I do's, as this will also create a clean page in which to start your married lives together.

I will also add that even though there are debts that may qualify for being discharged in bankruptcy, there are longer standing consequences for declaring BK.

There may not be legal raminfications for you after marriage for pre-martial debt (I haven't researched), there is still the social stigma that you may face.

Prior to setting a date, make an appointment with a credit counselor (not a debt counselor), have them put you on a budget and stick to it. The more debt you pay off the better.