(Closed) Money Merging – Legal

posted 7 years ago in Legal
Post # 3
Member
1668 posts
Bumble bee
  • Wedding: March 2012
Post # 4
Member
139 posts
Blushing bee
  • Wedding: May 2012

I’m pretty sure it depends on the state. Some states say you aren’t responsible for anything he incurred before the marriage but in others you are responsible for everything he is. Sorry I don’t have a definite answer but it’s a start…

Post # 5
Member
4137 posts
Honey bee
  • Wedding: May 2011

whether or not you are now responsible for his debts depends on your state.

as for his credit score, yours won’t change unless you add him to your credit card. your score might drop a little in that case, and his might go up a little. if you don’t want the risk, you can keep your credit accounts completely separate and neither score will change. the only potential problem then is if you need a loan together to buy a house, for example. decide if you want to help build his score together, or if you would rather keep 1 excellent score and 1 mediocre score. maybe you would qualify for a house loan with just your income, and then it doesn’t matter if you keep your credit accounts separately.

Post # 6
Member
14186 posts
Honey Beekeeper
  • Wedding: June 2009

Could you get a prenup to protect yourself? This way they can’t come after you for pre-marriage debts?

Post # 8
Member
14186 posts
Honey Beekeeper
  • Wedding: June 2009

I have no clue. I just know if I was actually going to marry a man with bad financials, I’d protect my own ass as much as I possibly could! Maybe a lawyer who specializes in finances? Or call a family lawyer–surely they can make recommendations.

Post # 9
Member
74 posts
Worker bee

I’d definitely think the pre-nup would be part of it, but you definitely want to keep him off your credit cards and mortgage. He should work to build up his credit and balance his credit score but keep stuff separate for sure as much as you can. Also consult an attorney…family law lawyer should be able to help you and I wouldn’t think it would take more than an hour or two of their time and a couple hundred bucks to adivse you and draft up anything for protection. It’s definitely worth the little bit of cost to protect you and look at ways to help him. I hope you are planning on taking control of the communal finances in the future!!

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