Am I Liable For Future Husband's Debt?

[stubby71]

What is the name of your state? PA

Lets say that I have excellent credit and my fiance' has issues. He is nowhere near bankruptcy but with his late payments and very high interest credit cards, it is causing problems. Once we become married, if I put my name on his checking and savings accounts, will that hurt me in any way? We are NOT talking about a joint purchase like a home, etc. I am talking about if I am his wife and my name is on his checking account, am I liable in any way for his debt issues?
Example: He does not pay his one credit card bill for 2 months (his name only on the credit card), but, the creditor sees that my name is on his checking account. Is my credit at stake "OR" even worse, they see that I have my OWN separate checking account (on top of the joint one) with just my name on it and they come after me under that account for the money?
What is the name of your state?What is the name of your state?

 

[JETX]

will that hurt me in any way?

Will it?? No one can answer that.
Could it?? Yes.

am I liable in any way for his debt issues?

No.

Is my credit at stake

No.

they see that I have my OWN separate checking account (on top of the joint one) with just my name on it and they come after me under that account for the money?

They could seize any funds that are in his name, including held jointly. You could then file a motion to exempt those funds that you can prove are yours.

 

[VeronicaLodge]

why not just keep your account and his account separate?

 

[Country Living]

It's more than just keeping separate accounts

The two of you have opposing financial lifestyles which will impact the health of your marriage and (possibly) your long-term financial security. I hope you will take time before your marriage to reconcile these different philosophies and the impact it will have on your relationship and financial well-being.

 

[JETX]

The two of you have opposing financial lifestyles which will impact the health of your marriage and (possibly) your long-term financial security. I hope you will take time before your marriage to reconcile these different philosophies and the impact it will have on your relationship and financial well-being.

Did you mean to post this drivel to the www.oprah.com website??

 

[Country Living]

Did you mean to post this drivel to the www.oprah.com website??

It is unlike you to be in such a bad mood. You know exactly what I mean - she will not be able to protect her financial security long-term if he does not get out of debt and pay more attention to money management. It makes no difference if they have separate checking and savings accounts.

Mismanaging money is a hard habit to break. It's seldom just one occurrence - it becomes a way of life. She could eventually live in fear of losing everything she's worked for because of her significant other's financial problems. I guarantee you his problems will become hers in a nano-second. It will start out with her helping him catch up on his back payments. Then she'll start making payments because he had an emergency. It just never ends. This is what happens when there are opposing financial goals. Love does not conquer all.

 

[FloridaSunshine]

Maybe your credit is not the main issue

I have some past experience with being in love with someone that did not share my financial care and giving finances the highest priority. Perhaps you should hold off on marriage and ask yourself what other aspects of your partner's life / personality are not shared. Talk about this with your partner. Even if it is not an issue that could affect your individual accounts after marriage, as othe rposts have said, one never knows. Besides, his irresponsibility and immaturity with his finances are a poor reflection of who he is at this point. Talk to him about how important this iisue is for you. Perhaps you can help him grow or you will need couples counceling or you may decide you do not share the same future goals. trust me, you do not want to grow old with someone whom does not share your financial savvy -- otherwise, you will just be supporting him.