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My fiance is so in debt he is facing bankruptcy. How do I separate our finances so the baliffs don't get me? |
My fiance is so in debt he is facing bankruptcy. How do I separate our finances so the baliffs don't get me? If you are a fiance rather than a spouse, your finances are not legally combined, so it is fairly easy. Close out any joint accounts, and verify that all assets and liabilities are either in his name or in yours. since you aren't married - not an issue Well, you aren't married yet... do you have joint assets already though? hahaha Just make sure he does it before your married. After that just put the house loan your name, and not his. 4 years down the road the bk won't matter. until you are married, your finances are separate. Once you get married, they can affect your credit score and your ability to get loans and credit cards, but thats about it. Also, once you are married, you are also obligated to pay for his debts if anything should happen to him. My mom faced this issue when my father passed away. Good luck. |
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