Will a Man"s Past Debts Burden His Fiancée After They Marry?
Marriage is having a new life and it can be beneficial to both or a burden to one if the other partner is having many problems. Debt problems can be a problem of the other after their marriage, but they can also have solutions to this which can free the other partner from the burden. What is important is that everything will be clear and the other person or your fianc©e knows that you have debt problems. Your fianc©e can either accept the fact that she should help in paying the debts or you file bankruptcy before the marriage is held.
If the decision is to file for bankruptcy it should be done immediately and before the marriage so that it will not affect the other partner's credit standing. This filing of bankruptcy will allow the debtor to have his credit restructured and payment will be scheduled. If the scheduled payments are followed religiously his credit standing may be restored after a couple of years. Meanwhile, after the marriage the other partner should have a separate credit so that her credit rating will not get affected. Although morally she is obligated to assume the credit of her husband after the marriage what she will do is help in the payments, but her credit should be separate.
This filing of bankruptcy before the marriage will not affect directly and burden his fianc©e into a flood of financial troubles but she will also take part in absorbing the crisis, because morally she is also bound being one in marriage. What both of them can do is to plan together how to pay the obligations, but talking of joint credit will be out of the question. The credit should be separated as much as possible. Both of you will have chances to have a fresh start and learn how to handle finances efficiently. If you will not learn how to handle this you will not have chances of paying your debt schedules efficiently.
If the question is if it will burden the fianc©e after marriage, the answer can be both yes and no. The answer is yes because morally she will be obligated, and no for the answer if bankruptcy was filed before the marriage was made. If bankruptcy was filed and credit was restructured for a scheduled payment, this will not have an effect on her credit, provided that it is separate. By not filing for a joint credit, this will be only her own and her credit standing separate from yours. However, there should not be a neglect on your debt schedules and both of you should take part in the payments.
Legally, the husband's debts will not be the wife's legal obligations if these were made before the marriage, and especially if bankruptcy was filed before the marriage was held. For both of you to move on it can be better that there is an arrangement on how to pay off the debts because morally, the debts can be both your obligation.
If the decision is to file for bankruptcy it should be done immediately and before the marriage so that it will not affect the other partner's credit standing. This filing of bankruptcy will allow the debtor to have his credit restructured and payment will be scheduled. If the scheduled payments are followed religiously his credit standing may be restored after a couple of years. Meanwhile, after the marriage the other partner should have a separate credit so that her credit rating will not get affected. Although morally she is obligated to assume the credit of her husband after the marriage what she will do is help in the payments, but her credit should be separate.
This filing of bankruptcy before the marriage will not affect directly and burden his fianc©e into a flood of financial troubles but she will also take part in absorbing the crisis, because morally she is also bound being one in marriage. What both of them can do is to plan together how to pay the obligations, but talking of joint credit will be out of the question. The credit should be separated as much as possible. Both of you will have chances to have a fresh start and learn how to handle finances efficiently. If you will not learn how to handle this you will not have chances of paying your debt schedules efficiently.
If the question is if it will burden the fianc©e after marriage, the answer can be both yes and no. The answer is yes because morally she will be obligated, and no for the answer if bankruptcy was filed before the marriage was made. If bankruptcy was filed and credit was restructured for a scheduled payment, this will not have an effect on her credit, provided that it is separate. By not filing for a joint credit, this will be only her own and her credit standing separate from yours. However, there should not be a neglect on your debt schedules and both of you should take part in the payments.
Legally, the husband's debts will not be the wife's legal obligations if these were made before the marriage, and especially if bankruptcy was filed before the marriage was held. For both of you to move on it can be better that there is an arrangement on how to pay off the debts because morally, the debts can be both your obligation.
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