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Expert: Regan Shinski - 1/9/2010


Question
Hello ive been with my fiance for 6 years, over that time he had did some poor credit mistakes, now hes getting sued and wages garneshed. Now the only reason we havnt gotte married yet is because im afraid when we get married all his debts will become mine. The ones in only his name, i have not co signed anything for him eaither. He wants to file bankrupsy but i just want to get married soon. we have 2 small children and i dont want his debts to be the reason stopping us to get married. and would my debts only in my name merge with his debts? thank you very much we are out of MI

Answer
You should be fine.  You do not live in a community property state.  His debts are his as long as you have not co-signed, co-applied, or listed as an authorized user.  If he gets a judgement against him, bank accounts may be able to be attacked so some co-mingled funds may be at risk.  However, the credit and legal liability stays with the debtor, not the new spouse.

New joint credit and obtaining a mortgage may become an issue depending on your income.

Here is an excellent link for more information:

http://www.bankrate.com/brm/news/DrDon/20090603_fiancee_debt_credit_a1.asp

Good luck - get married and be happy!  :)

Regan

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Regan Shinski

Expertise

I can answer questions on collections, repossessions, bankruptcy, credit repair, credit counseling, FICO scores, credit planning, and the cause and effect of credit related decisions. I can also answer questions on collection settlements and preparing to sue your creditors for false debts and credit credit reporting.

Experience

Fifteen years ago I was financially devasted due to severe health issues. I filed bankruptcy, had a foreclosure, car repossession, tax lien, and ruined credit. I immersed myself in credit law. I settled dozens of accounts and had them removed to improve my credit. I personally sued four creditors and collection agencies and won cash settlements for their false reporting on my credit reports. Since then, I have completely recovered and have nearly $100,000 in revolving credit lines and perfect credit. I have owned a credit repair company for the past five years and have an additional three years of specific work in the collections and debt management industry. I am fully versed in the Fair Debt Collection Practices Acts (FDCPA), Fair Credit Reporting Act (FCRA), and have used them successfully in collection settlements and lawsuits for myself and others. I am also familiar with and abide by the Credit Repair Organizations Act (CROA). I have deleted or helped delete literally hundreds and hundreds of derogatory items from consumers' credit reports and helped negotiate many settlements with collection agencies and creditors. I have also advised people on bankruptcy at any stage. In the current credit market, I have successfully advised numerous people on how to obtain credit and how to negotiate for better terms.

Education/Credentials
BA University of Minnesota

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