October 30, 2009, Newsletter Issue #136: Tips on Managing Debt Before Marriage

Tip of the Week

Unfortunately, if the accounts were held only in your fiancÚ's name, he is responsible for paying the entire sum of each bill or debt. He may consider contacting the financing agencies where he has outstanding debt(s) and negotiate a payment plan.

Debt consolidation is another alternative. As with any other professional service, shop around and compare service prices and terms. Remember if your fiancÚ neglects his outstanding debt now, it may affect your credit, home buying power and property choices in the future.

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