What should I know about marrying a guy with debt, poor credit and tax liabilities?
July 28, 2007 9:42 AM Subscribe
I'm going to marry a guy who has a lot of debt and possible trouble with the IRS. What should I know?
posted by anonymous to Law & Government (23 answers total) 9 users marked this as a favorite
He has the "usual" debt - car, credit cards, school loans - but a lot of it. His credit rating is trashed and won't get any better before the marriage. Though I also have some debt, my credit rating is pristine. Am I correct in thinking that his debt coming into the marriage remains his responsibility? Or can those creditors come after me (I have nothing to take right now anyway)? Am I right in thinking that the simple act of marrying this guy does not affect my credit rating, but joint accounts/loans would?
The other issue is that he owned his own business before we met and did not file tax returns for several years (due to laziness/disorganization, not criminal intent or political reasons). It's unclear how much he owes because he hasn't been willing to organize the paperwork and see an attorney. I don't foresee this getting resolved before we marry (although I could make it a condition of marriage). Will I be liable for his tax delinquency?
We live in Illinois but will probably get married in Wisconsin. I know you're not my lawyer and this isn't legal advice.