If I’m getting married in a few weeks but my soon-to-be wife has a large amount of debt and is filing bankruptcy, how will this affect me?

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If I’m getting married in a few weeks but my soon-to-be wife has a large amount of debt and is filing bankruptcy, how will this affect me?

Asked on June 25, 2013 under Bankruptcy Law, Alabama

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

It will automatically impact you as soon as you get married because your income will be included in the calculations and any property you have together or contribute to together. The recommendations most give is to halt any marital plans until such time as these debts are handled and/or discharged.  Keep in mind, the credit scores are where most people live. Her score will dive down and yours may, as well, whem you marry her. After some point, her score can improve if your credit is much better and you begin to accrue property together. I would speak with an accountant/CPA/lawyer who can give you the hard truth of the impacts her bankruptcy will have.


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