A
female
age
36-40,
anonymous
writes:Does anyone know about how debt in collections will affect a marriage?My fiancee and I plan on getting married in about two years. But one thing I am concerned about is he owes a few thousand to collections. He has made a plan to pay it off over the next year. But Im concerned how it will all affect me. I havent had much luck getting information when it comes to collections so if anyone has any knowledge it would be much appreciated.
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Fancy yourself as an agony aunt? Add your answer to this question! A
male
reader, Undisclosed  +, writes (3 January 2009):
 NONE OF THE FOLLOWING SHOULD BE CONSTRUED AS LEGAL ADVICE. IF YOU ARE CONCERNED ABOUT HOW MARRIAGE WILL AFFECT YOUR FINANCIAL SITUATION, YOU SHOULD CONSULT A FAMILY LAWYER.
Congratulations on your engagement!
The laws governing marital property are specific to the jurisdiction in which you find yourself. Your "collective property" will be affected as per the legislation in your state at the time of marriage, and again if heaven forbid you should find yourself in the unfortunate nightmare of a divorce.
If you do not want the laws of the state to apply to your marriage, in whole or in part, you and your fiancé can sign a Marriage Contract (i.e. prenuptial agreement). You have a lot of liberty to derogate from the law in such a contract. You can for example keep his finances and yours separate at all times. A family lawyer can best advise you on how to structure such an agreement to your advantage. This would also require the full disclosure on the part of your husband of all his assets and debts. Husbands generally amass more wealth during the marriage and so keeping property separate is not usually advantageous to the wife.
Generally, financial responsibility is linked to title. If the debt is in his name, it is his responsibility. If he offers a car in his name as collateral for a loan. If he doesn't pay up, he will lose his car.
How will this affect you?
This will affect you in several ways:
(i) If property in which you are both title-holder (i.e. both your names are on the document) is offered as collateral for his debts, such as your matrimonial home, your cottage or your car, you will both share the risk if he doesn't pay up
(ii) If he has a bad credit history, you will both suffer a bad interest rate at the bank if you ask for a loan in the future
(iii) Any specific provisions of the laws of your state
If this is a serious concern, you should consult a family lawyer. Once again, none of the foregoing should be construed as legal advice.
A
male
reader, DoubleM +, writes (3 January 2009):
 If he indeed pays off his debts, and neither of you develop any additional credit issues prior to your marriage, then you should be okay. His past delinquencies, depending upon the severity, may follow for a few years, but clearing it all up will be very helpful. Credit is a great thing to have, like for buying cars, appliances, furniture and such, but use it wisely. Always pay timely and do not go too far into debt. Use credit cards very sparingly, a little at a time.
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