(Closed) Marrying someone with debt

posted 10 years ago in Money
Post # 63
Member
1417 posts
Bumble bee
  • Wedding: September 2012

Hmm…if you guys are getting married it’s high time to put an end to this. YOU inherit all of his debt.

Case-in-point: My parents got a divorce. My childhood home went to my father. He can’t pay the mortgage or afford to refinance. Despite the fact that the state appointed my father as the owner of the home and took my mom OFF the deed, she is still ON the bank note…which means my dad could default, or marry some crazy broad and she could default and MY MOTHER will be held responsible for the debt! Crazy.

Fiance and I are totally open about credit/debt/income, etc. I know all of the passwords to his accounts and he, mine. We keep them filed away with our financial information. We do have credit card debt and plan to help each other pay off the cards, starting from the highest interest rate to the lowest, together.

Time to buckle up and put your foot down! Thats a hella ton of debt!

Post # 64
Member
1943 posts
Buzzing bee
  • Wedding: August 2013

My Fiance had debt at the beginning of our relationship, and he insisted upon paying it off before he would ask me to marry him (which I respect/appreciate).  His debt was $5,000 so obviously that’s very different, but given that he only currently makes $20,000 a year that’s quite significant.  He has also just taken on $20,000 in school loans, but I know he/we will be able to pay those off over time. I think its fine for your Fiance to have debt when you get married, given the money he makes, as long as he’s actively paying it back etc, not just ignoring the issue.

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