What should I do with my debts before getting married?
Sometimes having debt before getting married can culminate tension between you and your future spouse. Filing for bankruptcy may be a topic of discussion, but it might be a good idea to approach how you are going to handle your debts before getting married. Not only will this be helpful for your bankruptcy attorney, but it can also bring a more stable financial outlook for the two of you in the future. Getting the right legal advice could enable you two to have a more financially stable future.
Discussing your credit score before marriage
If you have debt, it might be advised to talk about your credit scores with one another. Credit reporting agencies have different guidelines to obtain your credit score, so you might want to understand what your personal score means to you and how that applies to you as a couple.
Individual credit card debt
You can also discuss your individual credit card debts. In this case, you can pull up copies of your statements from your credit card companies. Then, you can add up all of your debts as a couple and individually so that you can see how much you owe. It would be a good idea to know the penalties and any interest fees associated with your debts.
Possible debts to consider
Try to remember all debts including student loans, car payments and old mortgage fees as well. Once you have these in order, you can discuss your plan for managing your debts together. You can also take into an account your incomes and any other expenses once you are a legal couple. A bankruptcy lawyer can help you get your financial statements organized and is more likely to give you a better picture of where to start and manage your financial future.
Is it possible to make changes to my bankruptcy file? Sometimes debtors hire companies to file their bankruptcy for them. There is a possibility that these companies may make a mistake that could lead to serious legal issues. How is it possible to fix your bankruptcy file after it has been submitted?
You can file an amended petition or amended schedules as needed. It would be a good idea to hire competent bankruptcy counsel asap.
This answer pertains to individuals in the state of California.
Answered by:
Michael J. Berger
Location: Beverly Hills, California
Phone: (310) 513-5419
