Tuesday, April 17, 2012

Good advice about partner's bankruptcy

Bankrate.com's bankruptcy adviser has a timely article on the effect of your partner's bankruptcy.

Dear Bankruptcy Adviser,
I am going to marry someone who has filed bankruptcy. He gave up his house as part of the bankruptcy and came to live with me. His bankruptcy has since been discharged. My house is all paid for, and I have no debts other than a car loan, which I can easily cover. I have an excellent credit rating and have never gotten into difficulties financially. Will there be any problems for me once we are married?
Excellent question, I think.  Here's more,
It's smart to be concerned that your positive financial credit history could be affected by his negative one. I would suggest not putting him on any of your accounts for the foreseeable future. You might want to open up a joint checking account, but try to keep your finances separate until he has recovered his credit rating.
At the end of the day, the goal is to rehabilitate your partner's credit without dragging you down into the muck an mire.

Read more: Make Sure Fiances Bankruptcy Wont Affect You

For your next title order or
if you have questions about what you see here, contact
Stephen M. Flatow, Esq.
Stephen's Title Agency, LLC
165 Passaic Avenue, Suite 101
Fairfield, NJ 07004
Tel 973-227-4724 - Fax 973-556-1628
E-mail Stephenstitle AT comcast.net - www.stephenstitle.com

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