Partners Debt

[stella650]

I want to marry my partner this year but he is in a lot of debt and some people say i will be liable for it when we marry is this true?

[Richard1966]

The simple answer is that you do not have a personal liability unless you are part of the original agreement to borrow the money. However his debt can affect you. if he is maintaining payments on the debt and can do so until they are paid, probably nothing to be too concerned about. if however he is struggling with payments or has missed some, then this will or possible already has impacted on his credit record. The credit record should be held separately fro him and for you, but if you share and address this will show up when a search is carried out and MAY effect your ability to get credit in the future. this will be important if you were thinking of borrowing, or if you rent and need to move in the foreseeable future. Also if you own your property, he will acquire rights to it on your marriage and if he defaults on debt creditors could apply to have the debt charged against the property which is now a joint asset.

Get him to see someone for help with the debts, StepChange, Payplan or Citizens Advice so you know what the options are for dealing with them.

[Prudie]

If I was your gran I'd say don't marry him at all while he has so much debt. By all means take advice to help him get through it however you can but if you start married life with that hanging round his neck I think it will bring you unhappiness.

[Peaspeculiars]

Richard1966 has already given very good advice.
I would add though, perhaps it would be best to use the money saved for your wedding on clearing (or part clearing) your partners debts first?

Weddings can wait until you get a good level financial foundation beneath you both, what's the rush?

[Retrochic]

Once you are married and live in the same house his debt will be linked to your name and your home. You will find it difficult to get credit even if its for you only -ie phone contract. It will be nigh on impossible to get a mortgage. You will not be 'liable' in the sense you would have to pay it off, but being linked by marriage or sharing a home is very bad for your credit rating. If you own property in your own name he would not be able to use this to pay off debts and a credit company could not seize your property as an asset as it is your own personal asset and only your name is on the Land Registry.Marriage does not change who owns property, only who gets the assets if you die intestate.

[Peter Pedant]

I dont think you are liable for the debts

but I think you end up paying them anyway - such as the suggestion that the money for the wedding be offset against the debt

if he has a lot of debt why not tell him you wont marryhim unless he makes hinself bankrupt ?