Marriage and Debt: Is My Spouse Responsible for My Debt?

These days, marriage is about more than just love and commitment-it's also about money. When you marry someone else, you also marry their money and their debt, which can be quite a shock for uneducated newlyweds. When you don't disclose your financial situation to your partner before wedding bells start ringing, you might be in for a rude awakening.

In fact, studies show that money is one of the most prevalent causes of divorce in America today, second only to infidelity. When you discover that your spouse has mired you in debt, you might not have anywhere to go but out. It's far better to get all of the information up front, then decide if marriage is the right way to go.

New Marriage, Old Debt

You've just gotten married and you're carrying a bit of debt with you into the relationship. Is your spouse responsible for your debt? Thankfully, in most cases the answer is "no" because your spouse doesn't have anything to do with past debt. However, there are a few circumstances in which s/he could be held responsible.

For example, let's say that you racked up $10,000 on a credit card that was in your name as a single. When you got married, you added your spouse as a joint account holder, which makes him or her responsible for the debt. If, however, you were to keep the card only in your name until it was fully paid off, your spouse wouldn't be liable for the debt.

In that same situation, if you were to default on the credit card in both of your names, your spouse's credit rating would take a hit, even if s/he had no knowledge of your delinquency. This is where marriage and debt coincide, and the consequences can be ugly.

If you're getting married soon, or if you've just gotten hitched, make sure that you and your spouse disclose all financial obligations to one another. Then you can make an educated decision about combining accounts or adding one another to existing accounts.

My Card, Our Debt

The United States legal system is tricky where this is concerned. Debt incurred outside the marriage does not make your spouse responsible, but any loans or lines of credit obtained during the marriage makes both partners liable.

If you apply for a credit card without your spouse's consent, then rack up serious charges and fail to pay it back, your spouse becomes responsible. Marriage is like a business partnership where fiscal matters are concerned; any debt you incur while married stays in the marriage.

In this case, your spouse doesn't have to sign on as a joint account holder in order to be held responsible. In fact, s/he doesn't even have to know about what you've done in order to be sued or have wages garnished for non-payment. Make sure that you and your spouse communicate about financial matters during the marriage; often these situations are a result of poor communication.

No Marriage, No Responsibility

Another question frequently asked about finances concerns couples who live together, but who have not legally married. This is far different from a marriage, and the rules significantly differ as well. If you are living with your partner, but haven't married, he or she is not responsible for your debts. Only when he or she becomes your spouse will you have to take responsibility.

The only exception to this handy rule is in the event of a joint account. Any time you sign up as cosigners on a loan or account holders on a line of credit, you each become equally responsible for the debt incurred. This is true even if you aren't romantically involved or even living together; two people take equal responsibility for debt when they sign the paperwork.