Marrying someone who is in debt?

[puzzfuzz]

Just out of interest if you marry someone who is in debt, then are you liable for their debt if they lose their job and can't afford to make the payments ?

[LoftyLottie]

I think so. But not 100% sure. This might be better put in the Law section puzzfuzz.

[Robinia]

Yes, like Lottie I think that when you marry someone you take on their debts

[LoftyLottie]

It seems that I (and Robinia) are not right

"Debts
Living together and marriage
You are liable for any debts which are in your own name only, but not for any debts which are just in your partner's name.

You may be responsible for the whole of debts in joint names and for other debts for which you have 'joint and several' legal responsibility. For example, in England and Wales, if you owe council tax, you and your partner will both be responsible for the debt, regardless of whether one of you contributes or not.

If your partner has a debt for which you have acted as guarantor, you will also be held legally responsible for paying it.

If you're married, you will not be responsible for any financial obligations or debts that your partner had before you were married."

For more information, in England and Wales, about joint debts if you split up with your partner and aren't married, see Breaking Up Checklist on the Advicenow website at: www.advicenow.org.uk."



Got the above from this website.

http://www.adviceguid...legal_differences.htm

[hc4361]

No. Even a married person who takes out debts in his or her own name is solely for the debt. It would have to be in joint names for both to be liable.
BUT the total household income is taken in to account when assessing repayment schedules.

[Robinia]

Oh thanks Lottie...I think hc4361's second point must have applied when there was a big hoo-har in our newspaper regarding a local couple's debt. :o(

[Panic Button]

It makes a difference whether you have separate finances or a joint account.

[bushbaby_de]

Also if you buy a house jointly even if he has debt in his name that you are not liable for, if he defaults the house may have to be sold to recover his percentage to pay his debts, so it could affect you in this way even though you are not directly liable. Also his credit record could affect your own credit rating as you become financial associates.