Couples... do you count your partners debts too or do you only consider your own??

YoungBusinessman

My debts are all mine. In fact OH doesnt have so much as an overdraft, theres probably enough in her business account to clear my £46k debts but lets not go there, i got myself in the mess, il get myself out.

Newyorkdreams

We have been together 12 years, married for 5. The debt that we have has been accrued by us since we have been together so we share it. Having said that, the debt we had from before we got together (me - student loan, couple of thousand on a personal loan; OH - student loan and small overdraft) was shared and paid off using joint finances. I earn double what my OH does but this doesn't matter, all household income is pooled and the debt paid. I respect other couple's way of managing finances but it would never work for us if it was separate.


NYD

themull1

dano17439 wrote: »

Mine and my wifes income is pooled, so therefore if we had any debt, that would also be pooled. Really cant understand married couples who have there own separate money. Your are supposed to be a unit, a team, a partnership and everything is a joint venture if you have a happy successful marriage

Rubbish, i married someone with a bad credit record, i wasnt;t going to get a joint account and drag my credit rating down. Did the joint account thing with my first husband - just harder to close when you split up, and a danger that one person will clear account out. My husband and i will always have our own separate money. Works for us. But i wouldn't preach that a joint account makes a better marriage, just means you can keep a closer check on each others finances!!!

foolsgold01

About 6 months ago (a very long story short) I found out my husband was in debt by about £30k coupled with my debt equated to £40k and what led me to this website.

I believe as we are married his debt is my debt - not an easy journey by any means. As said, a long story short, my husband ended up handing over the responsibility of sorting this mess out to me and I have control (for want of a better word) of the finances and debt.

Previously I dealt with my debt and my husband with his but at the end of the day if bailiffs are at the door or red letters start to arrive whose debt is it really his? or ours?
FG x

weebit

I see our debt as both of our debt, regardless of whose it was before the relationship started. Afterall, if you live together, it's both your money. We don't have joint accounts, but that doesn't matter.

before I met my now wife, i had about £10k of debt, which has increased since I've known her, mostly due to us spending more than we earn. Therefore I see it as debt we have accrued together.