I was thinking about this because h2b has some spending issues. Hes not gone over 1000 overdraft but he just cant get it down. we got it to 500 something and he puts it right back up because he just doesnt watch his spending. Its the unplanned overdraft fees which knock it right back up and then to get back into planned money comes out of our account and bills are paid out of there so i have to use my money so ive had to put mine up by 200 over the last 18months well 300 as i got it back down to 200 again. plus ive have to get a 300 overdraft on our account to cover it too. We would of been free of it all as he got his old managers job back after resigning because of stress well hes stepped down again because of stress/depression. Which im fine with i dont want him being ill but its a BIG pay cut again and he just cant handle it. I have to deal with it. I now because of his spending before the pay rise couldnt save money i did but it went back to getting him out of trouble, so one im worried im not going to be able to pay for the wedding as he wont let me change it to an evening event and we have to save a min of 500 a month from now on to save for it. thankfully i only have to pay 75% of venue before and i can pay the rest within 14 days after. Im so worried. With the depression he can get really horrible.
So i was wondering as ive always been a saver and since ive been with him im so tight with money because i know ill need it and i just dont spend money on myself, well not often and not much or i panic.
So after all that dribble.... when you marry someone in debt do you say kind of inherit it so if he needs to pay it back am i legally responsible for it? so if he racked anymore up before the wedding and he had the bank or who ever after him would i take the blame too as we are a married couple? I know it may not seem a big deal to some people and i know its not a huge amount. even though i think its enough. especially with his spending habits. it just worries me.
CommentAuthorXLittleMissMe!X
On your credit report it will show that you have financial links to each other. Chances are though if you share bills etc they will have already joined you as they did that with some of my ex's but you can ring them up and be disassociated with them as that is what I did. Not sure if you can do that when you are married though.
I'm not 100% sure but I think they can only chase the person who's name is on the debt so make sure if anyone is chasing for money you can prove everything in the house is yours. I had this with my ex as it was my house and my stuff but he had baliffs after him. They couldn't touch my stuff but could take his (not that he had anything)
CommentAuthorMrsMelodyWalker
I think the only way this happens is if your name gets put on his account
All of my dreams come true the day I married you, Mr Walker
5.11.11
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CommentAuthorfelicity.h
i guess all that ' dont forget to keep reciepts and bank statements etc' addiction i have that annoys h2b might come in a little handy one day lol. but thank you for that. sofas are under his name too so i guess its a good idea i dont like them :)
CommentAuthorLittle Kettle
As long as you have separate bank accounts/credit card accounts etc, his debt is NOT your debt. I've looked into this because I have debts and didn't want my H2B to be effected by it (not that I have bad credit anyway, but it's best to err on the side of caution). You CAN NOT be accountable for his debt, should anything terrible happen in the future. x
the debt belongs solely to the person who took the debt out - even if he took a second credit card out for you (but linked to his account) he will be liable.
If you have joint debts - or some bills such as council tax and water on occasions - the creditor can pursue both of you for the full amount.
the only way that it may affect you financially is if you had a joint mortgage and the creditors got a CCJ and then a charging order against your partners debt, as this then secures the debt against the house (but only your partners share in the house) and they can apply for an order for sale.
another way it can affect you is if he ever decided to go bankrupt or down another route of insolvency - the official receiver would look at the whole household income to distinguish the available income and decide if he will set up an income payments order for 3 months.
so generally no it should not affect you - only if the debts get really bad - but if you feel they are, go to CAB or contact payplan or CCCS as they will be able to help you - never go to a fee paying debt management company.
hope this helps :) (im a debt advisor)
One ring to show our love, One ring to bind us.
One ring to seal our love, and forever to entwine us.
19/2 Bst 38.5" Wst 34" Bly 39" Hps 39" As 10.5" Ths 20.5"
CommentAuthorjanetx71
is this the same in scotland xx
CommentAuthortilomilo
im not sure about scotland hun as they are different laws :( sorry
One ring to show our love, One ring to bind us.
One ring to seal our love, and forever to entwine us.
19/2 Bst 38.5" Wst 34" Bly 39" Hps 39" As 10.5" Ths 20.5"
CommentAuthorjanetx71
no worries thanks anyway xx
CommentAuthorlaurabrown83
I think u need to tell him to grow the hell up!! If he doesnt want to change the wedding to an evening buffet, tell him fine u pay for it then if u can stop spending all your money! See if he will agree to you taking his bank card off him and you giving him a weekly cash allowance that only covers essential spends. Thats what i've done with my H2B and we are slowly but surely getting him out of his overdraft! I told him he has to stop spending money like an idiot full stop or i wasnt going to marry someone so irresposible, thats what u need to do! Oh and don't ever get a joint bank account with him if hes that bad with money lol!
CommentAuthormrs pinkalice
if you live together your financial profiles will be linked already, getting married won't change anything. but if you apply for something on your own the lender should only take in to account your debt not anyone elses x
CommentAuthoralmostmrswood
I've just taken my h2b's cards off him because he's just as bad with overspending. Wasn't very amused but he agrees it makes sense. I'm not the best with money but the past few months I have been trying really hard and I think I've gotten into better habits.
