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Hot takes flooded social media and I lobbed my opinion: Don’t pay off any debts for your partner until you’re married, and be sure to get a prenup. It’s a belief I still hold today.
When someone loses a loved one, the last thing they want to think about is if any outstanding debts need to be paid off. Yet, nearly half (46%) of Americans believe that their debt would pass on ...
A decedent's debt typically gets paid via their estate — that is, any money or property they left behind. If you die with debt, your estate may first be purged to pay it off.
For example, if you have separate accounts and your spouse is paying off his own debt, what would happen if he became unemployed or decided to become a stay-at-home dad? Would you chip in?
Do you have to pay your spouse’s credit card debt once you’re married? As a general rule, you’re not responsible for your spouse's debts during marriage.
Our combined income is around $75,000. We would then consolidate my wife’s lower-rate debt and try to take a personal loan out to pay off the higher rate loans if we can secure a lower rate.
Through hard work, she and her spouse managed to get $50,000 in debt paid off. But because of that, her parents now think that she has all this money — and that she should feel obligated to ...
As Steve Sexton, CEO of Sexton Advisory Group, noted, paying off debt as a couple is a deeply personal process that looks different for everyone.