- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Help spouse pay off debt?
Posted on 2/20/15 at 1:06 pm
Posted on 2/20/15 at 1:06 pm
My future wife has about $17k of debt that is around ~$600/month for min payments. I plan on helping her consolidate the debt. She has agreed, once we are married, to give me her credit cards and let me manage it for her.
I make twice what she makes though and I am in a position to help her pay off the debt quicker. "What's mine is hers" anyway, right? Is this a good idea? I'm thinking, once her debt is paid off, she could take her extra to help me pay down my mortgage.
Eta: waiting until actually married (less than a month) to help
I make twice what she makes though and I am in a position to help her pay off the debt quicker. "What's mine is hers" anyway, right? Is this a good idea? I'm thinking, once her debt is paid off, she could take her extra to help me pay down my mortgage.
Eta: waiting until actually married (less than a month) to help
This post was edited on 2/20/15 at 1:58 pm
16
Posted on 2/20/15 at 1:10 pm to LSU6262
I would wait until you are actually married if it were me.
Posted on 2/20/15 at 1:12 pm to LSU6262
Pay it off.
Posted on 2/20/15 at 1:12 pm to bobaftt1212
quote:
I would wait until you are actually married if it were me.
This.
Posted on 2/20/15 at 1:18 pm to LSU6262
The cynic in me says you should wait until you are actually married before you contribute to paying down any of her debt.
You are marrying her - warts and all - and it's best to try to take care of that debt once you are married.
Is that all credit card debt?
You are marrying her - warts and all - and it's best to try to take care of that debt once you are married.
Is that all credit card debt?
Posted on 2/20/15 at 1:20 pm to LSU6262
You don't need to just take her credit cards you need to cut them up.
Posted on 2/20/15 at 1:22 pm to LSU6262
That's child's play. My wife had 100k in student loan debt and made a 3rd of what I did (and currently she's a stay at home mom!). It's a strain on the relationship at first, but if you handle it well, it isn't a big deal. It's just money. Plan accordingly and learn from past mistakes/habits and you will come out okay. My wife fell in line with our payment plan and the hardest part is convincing her to cut back on payments if needed and to just get something for herself every once in a while.
Posted on 2/20/15 at 1:33 pm to LSU6262
quote:Does not equal
spouse
quote:
My future wife
Do like others have said and wait until you are married.
This post was edited on 2/20/15 at 1:34 pm
Posted on 2/20/15 at 1:37 pm to KG6
quote:
My wife had 100k in student loan debt and made a 3rd of what I did
Props to you. I would break up with the love of my life over this.
Posted on 2/20/15 at 1:44 pm to I Love Bama
Posted on 2/20/15 at 1:49 pm to I Love Bama
Almost did. She didn't hide it from me. I knew she had loans. She was just irresponsible and didn't pay attention to what was accumulating. Decided to go to grad school, and that's when it really took off. I proposed thinking it was around 40-50k. When she called and told me how bad it had gotten, I even talked with my parents about what I should do. I considered how easy it would be to walk away. But what is an additional 50k compared to who you want to marry. In the grad scheme it's just a really nice car that you don't get to buy. It was more about getting her financial discipline more in line with what I practiced.
Posted on 2/20/15 at 1:54 pm to bobaftt1212
quote:
would wait until you are actually married if it were me.
I guess I should have clarified that we are getting married in less than a month and I'm just thinking ahead.
Posted on 2/20/15 at 1:54 pm to LSU6262
I'd wait till you were married.
My sister hid that fact that she was $50k in debt to her now husband till 3 days before their wedding...
I told her that I would have stopped the wedding over that.
My sister hid that fact that she was $50k in debt to her now husband till 3 days before their wedding...
I told her that I would have stopped the wedding over that.
Posted on 2/20/15 at 2:18 pm to Salmon
quote:
My sister hid that fact that she was $50k in debt to her now husband till 3 days before their wedding...
I told her that I would have stopped the wedding over that.
No disrespect intended, but your sister sounds like a huge bitch.
Posted on 2/20/15 at 2:19 pm to LSU6262
Once you're married it's your debt too. Pay it off then.
Posted on 2/20/15 at 2:37 pm to Salmon
quote:
My sister hid that fact that she was $50k in debt to her now husband till 3 days before their wedding
Your sister sucks.
Got to blame the guy too. He has no business marrying someone without checking up on their finances by doing a credit pull. Should be looking into what marraige will do to your joint financial situations well before 3 days away from the wedding
This post was edited on 2/20/15 at 2:38 pm
Posted on 2/20/15 at 3:04 pm to LSU6262
I was in a similar situation. Wife at one point did not have a lot of financial sense, got herself into some credit card debt before we started dating and was having a hard time paying it down with the high interest rate and occasional missed payments/late fees.
I paid the balance and had her make interest free monthly payments to me. Took her about 6 months to pay me back what would've taken well over a year, and with smaller monthly payments.
I feel like if you just pay it for her, even if you can afford it, she's going to make the same mistake. For my wife it ended up being a pretty illuminating lesson about how retarded credit card interest rates are and never carrying a balance. She's been a lot more financially responsible since then
I paid the balance and had her make interest free monthly payments to me. Took her about 6 months to pay me back what would've taken well over a year, and with smaller monthly payments.
I feel like if you just pay it for her, even if you can afford it, she's going to make the same mistake. For my wife it ended up being a pretty illuminating lesson about how retarded credit card interest rates are and never carrying a balance. She's been a lot more financially responsible since then
Posted on 2/20/15 at 3:40 pm to LSU6262
Sounds like you need to go talk to a lawyer about a pre-nup
Posted on 2/20/15 at 4:43 pm to LSU6262
I would not marry her, this is something you'll deal with the rest of your life or marriage.
Posted on 2/20/15 at 5:57 pm to yellowfin
quote:
this is something you'll deal with the rest of your life or marriage
I don't believe this to be the case. I've pulled her credit report and she has never missed a payment. Her fico is 680, which isn't terrible.
She ran up a lot of debt before we started dating. It all happened in a years time when she had a tragedy in her immediate family. She took an leave from work and moved in with her family out of state and help them with finances.
I believe this is a one time thing and don't see this happening again.
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News