Should I file bankruptcy before i get married?

by **gofraidh34** » Sun Nov 20, 2011 4:20 am

I have been forclosed and the defecit to the lender is to high I have no job after a divorce everything went to ground. I am planning to remarry , however I do not want my current bad credit to affect my fiance. would my old financial issues affect her immidiately after marriage? how to prevent that?
would that be better to file bankrupcy before we get married. what are the provision of the law ?

by **laureano97** » Sun Nov 20, 2011 4:34 am

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by **lawly1** » Sun Nov 20, 2011 4:48 am

Your credit will not affect your wife as long as you keep your finances separate. You would not want to apply for a joint loan (mortgage, credit card, etc.) because the creditor would set the terms based on your credit. Still, bankruptcy before marriage may be a good option. If you will likely file for bankruptcy at some point, do it before the marriage so that your fiance doesn't have to be involved at all. If you are married, you will have to include her income on and some other info on your petition. Also, if you are currently unemployed, you may be able to get the credit counseling course for free and also possibly get the filing fee ($299) waived. You should talk to a bankruptcy attorney in your area. Most will give a free consultation.

by **mace** » Sun Nov 20, 2011 4:50 am

I hope you are keeping your fiance informed in all this. Please don't make it a rude shock, it will take a long time to heal. Please be open with her.

So , yes, you need to try and sort out your financial issues before marriage. She can actually help get your scores up a little if she currently has a good score. I don't have the details but I know of a couple who did just that, i.e, the guy had a bad score and so had some sort of a tie-up card with his wife to help him bring up his score.

PS: I hate creditcards. Which is why I don't have one of them. Its tough, but I have peace of mind. No money in the world can get me that. Good luck.

by **kenway** » Sun Nov 20, 2011 4:54 am

I would talk to a bankruptcy attorney. Consultations are usually free. My gut says you should file before you get married, but I'm not a lawyer.

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