Partners Debts

Not_so_sure_2

Hello everyone,

I've posted in another forum regarding my partner, him moving in with me and his debts and I was told to come and have a chat with you lovely lot

As it stands:

I own my own house (outright) and have zero debts (I do have a credit card, but this is always paid back in full each month)

Now

I met a man and there is now talk of him moving in.

He’s quite a spend-a-holic, and by the end of the month he is strapped for cash. He rents his own place at the moment, as far as i know his bills are up to date BUT he does have dbts of around £2,500 on a credit card which he does not pay monthly.

My concerns are:

I do not want him to have any financial claim on my property (at least at the moment, obviously if we marry etc this would change)

His debts – Are they likely to affect me?

He will obviously have to contribute to half the bills, but as far as ive been told, providing he does not pay “rent” or contribute towards any extensions etc he has no claim on my property. Obviously no joint finances.


Sorry if this seems a bit cut throat, I’ve been burnt badly before and I’m trying to safe guard myself – as much as I love him, I love myself more!

National_Debtline

Hello there,

You will not be liable for his debts. He wouldn't be able to stake a claim on the property by contributing to the bills as you already own it outright - as such he'll not be able to build up a 'beneficial interest'. You could always consider getting him to sign a declaration acknowledging that the house is, and always will be, only your asset - you may wish to run that by a legal professional.

Very best wishes,

David @ National Debtline.
Twitter: @natdebtline

bargainbetty

I would suggest that you ask him to contribute his bill money via standing order within two days of his regular salary payments. You can decide whether or not those funds will cover food for the house or not, but make sure it is fair if it does. I suggest this clarification because a friend of mine asked for a sum towards her bills, and her new bf decided that covered his food too, and promptly ate half the contents of the fridge, freezer and booze cabinet. She made it damned clear that he was expected to contribute to the food costs as well in future, and buy his own booze. If he had spent his money by the end of the month, she wasn't covering his bar tab. They used to add £75 each to the main household pot, and used that to do online shops for all the staples, heavy and bulky stuff. Then each person got their own treats.

Just a thought, I wish you well!