Is My Partner's Debt Mine?

Pre-marriage Debt

When you marry, your partner's debt remains in his name and is still his responsibility. This doesn't pose a problem if he is actively making payments on it. However, in a case where he doesn't pay a loan back, the company can go after joint accounts or receive the money from a tax return that you filed jointly.

The debt that you incur during marriage becomes your responsibility as a couple. This is true even when one person buys a high-ticket item for her use only. This is why it's important to discuss any large purchases before you make them. Set your own limit for what you need to discuss before you buy -- for some couples, the limit might be $50, while for others it might be $1,000.

What happens to debt when you're going through a divorce depends on the state that you live in. Some states have "community property" laws, which means that all debt and assets incurred during the marriage will be divided equally at the dissolution of the marriage. In other states, you have to work with lawyers or mediators to determine a fair way to divide debt and assets. Once you know that you're getting a divorce, it's smart to close any joint accounts, so that you don't incur any more debt in the name of the couple.

In many cases, whether you consider your partner's debt as your own is based on your feelings as a couple. Though you may not be legally liable for the debt, you may find that his debt is holding you back as a couple, lowering credit scores and taking up too much of your income. You may choose to work together as a couple to bring that debt down rather than taking a "yours and mine" approach. Additionally, some couples maintain separate accounts during their marriage, agreeing that any debt that your partner incurs should be his and his alone. Legally, however, you may have to pay up if he slacks off on his bills.