So I acquire my fiancs debt when we get married?
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So I acquire my fiancs debt when we get married?
Good evening,
I am engaged to a man that has had unfortunate
situations in life and has debt including a substantial
amount of child support debt-which is currently being
paid out of his checks biweekly so it is getting paid.
However I want to know- will I also be responsible for
all of his debt when we get married or will my credit
suffer when we get married ?
Thank you
Asked on March 12, 2017 under Family Law, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
1) You do not become responsible for his debts except any that you specifically choose to guaranty or take over.
2) Your personal credit is not impacted by his credit.
3) However, your joint credit will clearly be negatively impacted by his debt, and since many major purchases or leases by a married couple (house, rental apartment, car, etc.) involve both person's credit, there will be an affect on you.
4) If he defaults on his debt, creditors can go after his share of any marital assets--anything you and he acquire jointly or which is owned/held jointly by the two of you: so his share of money in a joint bank account; his interest in a home owned jointly; etc.
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
1) You do not become responsible for his debts except any that you specifically choose to guaranty or take over.
2) Your personal credit is not impacted by his credit.
3) However, your joint credit will clearly be negatively impacted by his debt, and since many major purchases or leases by a married couple (house, rental apartment, car, etc.) involve both person's credit, there will be an affect on you.
4) If he defaults on his debt, creditors can go after his share of any marital assets--anything you and he acquire jointly or which is owned/held jointly by the two of you: so his share of money in a joint bank account; his interest in a home owned jointly; etc.
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