How exposed is my good credit standing to my fiance’s bad credit/financial situation after we get married?

I am getting married in approximately 2 months, and have recently found out that my faience unknowingly has a very bad credit situation. If we maintain separate accounts on everything except our rent, and do not acquire any combined debt until her situation is fixed, how exposed will my credit, assets, and income be to her credit situation? The decision has been made for me to take over her bills and monitor her checking account, but can a pre-nup protect me from her financial situation?

Asked on July 19, 2012 under Family Law, Minnesota


MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

A pre nuptial won't protect you from the credit rating because your debts even if separately named will inevitably wind up creating a decreased score for you because you are married. Debts are marital debts. Your credit may help her but you may wish to consider fixing the score before getting married.

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

A pre-nuptial agreement will protect you with respect to any issues that you may have with your spouse as to the division as to assets and liabilities in the event of a dissolution but such will not assist in debts that are incurred while married in that the debts incurred while married are both spouses debts.

It is a wise idea to monitor your future wife's debts before marriage and after.

Your credit is fine now but if things get out of hand with marital debt incurred during the marriage which cannot be paid off quickly, then your good credit may suffer.

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