question category: Friends, Family, Loved Ones

Financial Implications of marriage....
Submitted on: 2nd Sep 2010 by Non-Member | Total Answers: 1

I have a joint mortgage with my grandmother and we both own 50% each of the house that she currently lives in. My partner and I have moved out to rent however he transfers his salary to me each month and the bills come out of my account. The contract for renting is in joint names along with all of the utility bills. I am looking for advice on whether his debts can be claimed from me if we were to get married. We have no joint assets/accounts and we have kept our finances separate apart from a joint account held over two years ago (now closed) which just paid for meals out/holidays etc. Can my inheritance/share of the house be claimed to pay off his debt? He now has a stable job and is spending to what he earns but the debts he has are substantial in my eyes - although most of the amounts owed are interest and charges - he has had correspondence from some banks which he owes money to but some seem to have given up. If he gets CCJ's does this affect me in any way?

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Re: Financial Implications of marriage....

No, the only way you would be affected by the debts that your partner has would be if you were to become financially linked on your credit rating i.e. through having joint bills or applying for a joint mortgage. Your assets, including the property jointly owned with your grandmother, cannot be pursued by his creditors.

This question has been answered by Christians Against Poverty, a leading debt charity offering hope and a solution to anyone in debt.

Submitted on: 13th Sep 2010 by TA Member

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