Will it affect my credit rating if my husband becomes bankrupt?

Question

I am planning to marry someone who is going to file for personal bankrupsy soon, Will this affect my credit rating or am I best to wait to get married until after i get re mortgaged as a single person. Not very romantic but there we are!!

Answer 1

Why is he going to file?  Is he really bankrupt or does he just not want to take an extra job to pay his bills?  Does the reason tell you anything about his character?   The number ONE reason for divorce in this country is money problems.  If he cannot learn to handle money and/or you cannot agree on how to handle money, then don't marry him.

Answer 2

If you are on any joint accounts with him, and he files bankruptcy, that makes you the sole responsible party. Until he gets the discharge, which filing a bk takes about 4 months to fully complete, I would suggest having everything in your name only. After his discharge, he can start rebuilding his credit. Good Luck!!

Answer 3

If every thing he owes is in his name only and you haven't cosigned anything you should be OK.

But you need to keep your finances separate in the future if your both decide that is acceptable thing to do.

You might also consider possible options to negotiate your way out of the debt to get it off your back forever.

Answer 4

if you have him on your accounts, it can effect your credit. See if you can get him off of everything before he files