All this intermingling of debt means both of your attitudes and habits with respect to debt will definitely affect your marriage. Whether it affects the relationship for good or ill is largely a matter of openness and communication. Before the wedding and continuing at regular intervals afterward , you and your betrothed should determine where you stand financially. Discuss the debts you'll each bring into the marriage, your credit histories, any anxieties you may have around borrowing money or paying bills, and whether or not you've ever gotten in over your head with credit cards or other types of debt.
Once you know where you stand, you and your future spouse should talk about priorities in dealing with debts—both the ones you take on together and the ones you bring with you into the marriage. Among potential considerations:. These discussions can help you come up with strategies for managing your debt as a couple. For instance, couples who plan to apply for credit jointly in the future might choose to use pooled household funds to pay down one spouse's individual credit card bill, even if the debt is one spouse's alone.
Getting married cannot directly affect your credit score because the data on which those scores are based—compiled in your credit reports at the three national credit bureaus Experian, TransUnion and Equifax —do not include any information about marital status.
Spouses retain their individual credit reports and credit scores after marriage; there's no such thing as a couple's credit report. However, because both spouses' credit reports and scores are considered whenever a couple applies for a loan or credit card together, if you or your spouse has a poor credit history, that could affect your ability to borrow money jointly. And if you take out a loan or a credit card account jointly with your spouse, you're both equally responsible for the payments.
So if, for instance, one spouse goes on a spending spree with a jointly held credit card, the other is on the hook for paying it, even if they disapprove of the purchase.
That's one reason why, before saying "I do," it's a good idea to have an open discussion about all kinds of financial matters, including debt. Spouses should enter the marriage with a clear understanding of their respective debt profiles and credit standing , and a plan for managing future debt they take on together.
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Time is Up! What did we miss? If you want a debt collector to stop contacting you about a debt, or to only contact you at certain times or through an attorney, we have prepared sample letters that you can use to communicate with a debt collector.
The debt collector may file a claim against the estate like any other creditor. Generally, no. To find an attorney, you can contact a lawyer referral service in your area and ask for an attorney with experience in consumer law , estate or probate matters, debt collection defense, or the Fair Debt Collection Practices Act. Some attorneys may offer free services, or charge a reduced fee.
There may also be legal aid offices or legal clinics in your area who will offer their services for free if you meet their criteria. Servicemembers should consult their local JAG office. If you were an authorized user on a credit card, but not a joint account holder, you are generally not obligated to pay the debt. If a debt collector insists that you co-signed the account but you believe you did not, you may request that the collector provide evidence. That evidence could be a copy of a contract that you signed.
So you may be able to satisfy the debt collector that you were just an authorized user by showing the collector the relevant portion of your credit report. You can obtain a free copy of your credit report once each year at each of the three nationwide credit reporting companies online, by calling , or by mailing a request. Searches are limited to 50 characters.
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