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When it Comes to Marriage
When you get married, it is difficult to believe that the relationship may not endure. However, that is sometimes the case. Sometimes, especially at the start, a bad credit report can be overlooked. But that can't last forever. It sometimes happens that, even before the pair get to say "I do", the stress associated with bad credit spoils the relationship. Some may even make extravagant purchases in an effort to mire their former spouse in debt.When you are married, your spouse's bad credit is not your responsibility unless the debt is for a loan for which you both applied. You should understand that, if one of you has a credit issue, it will be more difficult for you to obtain a loan or credit cards as a couple. Don't be surprised if those joint applications are declined. That’s why it is essential that the topic of finances be discussed prior to marriage. Financial problems are the cause of most divorces. Often couples neglect to discuss finances in hopes that any issues will work themselves out. It very rarely happens that way.
Discussing the situation can't hurt the relationship; usually it strengthens the lines of communication. After ordering copies of both of your credit reports, you should examine them together and discuss them honestly. After having a heart to heart conversation, try to engage the assistance of a professional who can help you consolidate what you owe. Working with a professional will help eliminate future stresses and fights. Then, if you and your spouse cannot agree in a situation, you will have your debt manager's number handy and can put off the fight.
After a divorce, it is important to take measures to protect yourself. Whenever you separate or divorce, you should notify the credit-reporting agencies. The agencies make a record of all the pertinent information and assist each of you in making your own separate transactions. In addition, be sure that anyone who must send you a bill has your updated address. Although it may seem childish and petty, divorced people often toss out their former spouse's mail. After a divorce, you should close all of your joint accounts and pay all debts. If there was a lot of debt that accrued when you were married, you should discuss this with your attorney prior to the conclusion of the divorce proceedings and include a plan to correct this situation while the process is taking place. And remember that, in a divorce, all agreements must be in writing or they are not valid.
Although your marriage may not endure, your credit problems will follow you forever. It does not matter how much you love each other; you still need to look out for yourself and your interests. It may sound harsh, but the day may come when you will be glad you did it.
Can A Married Person File Bankruptcy Individually?
If so, what is the negative effect on the spouse? What if they're both on the debt? What if they're both on title to a house and on the mortgage?Notes:
1.Yes, each individual can file bankruptcy (like taxes- wife, husband, or joint)
2. Any joint debt becomes the responsibility of the non-filing partner. If a husband files, all joint debt becomes the responsibility of the wife. (Similar to how co-signers work)
3. Filing alone leave the spouse(non-bankrupt) still liable for his/her share of joint debts
4. If both on debt: only one spouse (the one who has filed) will be discharged while the other will still be liable for the debt
5. In CA and NV- whether a married person files alone or with their spouse all community property is considered to be part of the bankruptcy estate, which is liquidated by the bankruptcy trustee to pay creditors before a bankruptcy discharge can be granted
6. Common law states: only property that is held jointly can be liquidated to pay creditors, if the non-filing spouse holds individual assets he/she does not need to worry about losing anything
Article:
Filing for bankruptcy is a difficult decision to make, especially for married couples. A common question raised in this situation is whether a person can file for bankruptcy individually and if that decision will negatively impact their spouse.
Fortunately, there are no laws that require spouses to file for bankruptcy together. A married couple can choose to file an individual bankruptcy or a joint bankruptcy just as they would when debating to file for joint or individual tax statements. In California and Nevada, bankruptcy law dictates that whether a married person files alone or with their spouse, all community property is considered to be a part of the bankruptcy estate. The community property will be liquidated by the bankruptcy trustee to pay creditors before a bankruptcy discharge can be granted. In common law states, only property that is held jointly can be liquidated to pay creditors. If the non-filing spouse holds individual assets, he/she will not have to worry about losing anything during this period.
Filing for individual bankruptcy will have no negative impact upon an individual's spouse. The bankruptcy case will not show up on their spouse's credit report, hurt their chances of obtaining a loan in the future, or force them to explain what has happened to their employer. Keep in mind though, that filing for bankruptcy alone can leave the spouse (who is not filing for bankruptcy) still liable for his/her share of the joint debts. Any joint debt will become the responsibility of the non-filing partner. For example, if a husband files for bankruptcy, the joint debt will become the responsibility of the wife. Likewise, if a husband is discharged, his wife will still be liable for the debt. The spouse will be negatively affected if a loan is unpaid after a chapter 7 or chapter 13 has been filed.
Deciding when it’s Time to ask a Marriage Counselor for Help
Married life comes with struggles and with those same struggles comes the desperate attempts at locating solutions with problem solving tactics, or seeking marriage counseling. Marriage counseling, although it used to be thought of as the last resort, is commonplace these days for couples who don't communicate well anymore. The problem is quite common, and a significant number of people are seeking marriage counseling to better their relationships and attain desired harmony in their lives.Couples should use caution when deciding to seek marriage counseling. As there exist certain problems in which an outside and objective opinion is absolutely detrimental to the prospect of saving a marriage, there also exist other instances where the best advice is the understanding from one another as to how to solve the issues of the marriage from the inside.
The reason many people have trouble debating and conversing about their own problems is that they are too quick to resort to external help without really taking a look at their communication skills. Discussions with your spouse need to be the first consideration in terms of having marriage advice, however many people totally discard the partnership part and treat their wife or husband more as a silent partner.
The most critical thing to know about a marriage is that the base is built on good communication. If communication has broken down, even the best advice in the world from marriage counseling can end up going nowhere fast. There will always be conflict in a marriage; the key to dealing with it is keeping in mind that there are positive ways to deal with conflict and to find an answer. Even good relationships have conflicts, but the most important issue is how the couple goes about dealing with it.
As one is considering marriage counseling, several questions should be asked about the reality of the complete relationship. If a relationship that has been carefully built on trust is suffering from communication issues, how many more problems will be added simply by allowing an outside party inside the situation? Also, how successful will marriage counseling be in solving problems in the relationship if the husband and wife are not open to advice on problems such as jealousy or pride? Marriage counseling should not be undertaken by any couple until these questions are answered.
Seek Marriage Family Counseling Before You Decide on a Divorce
Divorces don't have happy endings or simple solutions. Although some divorcing partners believe it is possible to break cleanly, their children might have issues of their own. It is easy to discount the toll taken on finances and feelings. Marital troubles may often be remedied by consulting a marriage family counselor, except in cases involving abuse.Couples counseling has been able to stop many divorces from happening. Occasionally, troubles stem from failing to adequately express and communicate objectives, dreams, aspirations, or expectancies. With conflict resolution and communication skills, it is possible for a couple to regain happiness in a sound relationship. Expert, licensed counselors offer extensive backgrounds of training, study and expertise along with an unbiased opinion. Occasionally, individuals don't completely realize the underlying issues of a problem. When this is the case, a marriage counselor may help to pinpoint the source of the conflict. Partners are able to discover how to work through troubles, forgive, and go beyond the past.
A different approach is to seek divorce counseling from mental health experts instead of lawyers. Divorce counseling can be a deceiving phrase because it is meant to ease the divorce process, not avoid it. Once you've attempted seeking help from a licensed counselor, divorce counseling can prevent a long, drawn out and costly legal fight if divorce is the only choice. Frequently, when couples divorce they are very resentful about kids and possessions. These feelings of resentment might be prevented if the couple seeks help in the divorce process. With the assistance of therapy, divorcing partners can achieve a feeling of closure and get ready to live separate and independent lives. They can be helped in making choices on how to divide property, arrange custody and visitation of kids, and arrive at an equitable arrangement.
It's quite apparent that divorces are painful to the participants. It is important to remember that they have an enduring effect on the kids involved too. After a divorce, kids often feel that any relationship they develop will ultimately fall apart. Deep-rooted and unexpressed anxieties and resentments can reemerge to destroy future relationships. Thus, it's smart to enlist the help of a family marriage counselor prior to doing anything drastic. This will allow you to reevaluate your circumstances. Ultimately, you might be able to avoid having your child experience a life full of regret.
Among the issues that are definitely grounds for divorce are abandonment, abuse, or adultery. Among the issues that can be remedied with couples counseling are money conflicts, intimacy problems, and lack of interest. While relationships are considered private, it can be helpful to get an unbiased party to try to discover the source of your problems and possible solutions. Techniques exist for resolving conflicts, communicating displeasure, and facilitating a sound partnership, all of which an expert, licensed counselor can provide.
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