How Would Filing Bankruptcy Affect My Future Marriage

November 2, 2011 · Filed Under Frequent Asked Questions, Uncategorized

How would filing bankruptcy affect my future marriage? This is a question that is asked quite a bit on the internet and believe it or not many people are worried about how their finances today are going to affect their marriage. If you are planning on getting married in the future and right now your finances are in disarray; well you are definitely going to want to read this article.

First of all we can not see into the future; however I can assure you that the bankruptcy is not going to ruin the big day when it comes. Now we all know that once we file bankruptcy that stays on our credit report for 5-7 years and can prevent us from getting the good credit loan interest rates. Well the good news is that you can begin working on improving your credit right away and before you know it your credit will be back on track.

Unless you have joint accounts with the person that you are planning on marrying in the future this will not affect their credit. If you file bankruptcy and they have good credit; then I would recommend that you not get anything jointly. They should keep their credit separate as they do not want to affect their credit.

Their credit can actually help you rebuild your credit as well. However if you do this; take caution this does not mean that you should go out and get a bunch of new loans that you can not repay. Your main focus should be to get your credit back on track so that you can get on with your life. The purpose of filing bankrupt is to get a fresh start so that we can become smarter with our finances and make better financial decisions.

You should definitely notify the court if you have filed a chapter 13 because it could affect the repayment loan. If they bring in money into the household they could help you pay off the loan a lot quicker. However if they do not work and they stay home then that could hinder your payments as well.

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