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Quick question from newbie
Noctu
Posts: 1,553 Forumite
Hi everyone,
I was hoping someone could answer this question for my friend (yes - really!)
The situation is this: John and Laura have been together for years, are engaged and want to get married. Laura is debt free, however John is "most probably" going to go bankrupt due to a few debts, including mortgage defaults (his own house, nothing to do with Laura, she doesn't live there).
They don't have any joint accounts and their tenancy agreement only has Laura's name on it. I'm thinking that this will stop them from appearing on each other's credit files - please correct me if I'm wrong. Obviously the only way to find out is to check their files out for themselves (I've sent them the link to Martin's page about it).
Their main concern is they think that if they get married, responsibility of John's debts/black marks on credit file will automatically transfer over to Laura also.
Could this happen?
I'd be very grateful for any advice, ta :j
I was hoping someone could answer this question for my friend (yes - really!)
The situation is this: John and Laura have been together for years, are engaged and want to get married. Laura is debt free, however John is "most probably" going to go bankrupt due to a few debts, including mortgage defaults (his own house, nothing to do with Laura, she doesn't live there).
They don't have any joint accounts and their tenancy agreement only has Laura's name on it. I'm thinking that this will stop them from appearing on each other's credit files - please correct me if I'm wrong. Obviously the only way to find out is to check their files out for themselves (I've sent them the link to Martin's page about it).
Their main concern is they think that if they get married, responsibility of John's debts/black marks on credit file will automatically transfer over to Laura also.
Could this happen?
I'd be very grateful for any advice, ta :j
0
Comments
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Even if they were married, the only way that could happen is if they had joint accounts, mortgage etc.Unless I say otherwise 'you' means the general you not you specifically.0
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Ames is correct - only financially linked products will link their credit histories...DFW Nerd #025DFW no more! Officially debt free 2017 - now joining the MFW's!
My DFW Diary - blah- mildly funny stuff about my journey0 -
Thank you so much. They are both worried that they can go after her savings (she has quite a bit).
So marriage doesn't affect ANYTHING financially as regards non-joint debt accrued? Just need to drill it home (!)0
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