ElixirCoder
Expert Member
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- Oct 19, 2016
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From a purely financial point of view, by not telling your husband
Assuming your relationship weathers the turmoil, your very best bet is to pay off the debts and to fix the defaulting debit orders. By not doing this, and keeping the extent of the bad debts from your spouse, you are creating a situation where creditors can come after your spouse (given you're married in COP) and cause more problems for both your partner and your marriage.
Sit down with your partner, and discuss all the issues. Try and leave emotion at the door: it has no place in financial discussions.
It will take at least 6 months from settling debts to start repairing your credit profile - and much longer if there are any judgements listed against you, so best to get started now.
There is a round about way he can do it with setting up and buying the property through a business but that is both costly (more taxes to pay) and complex and usually not worth it for private non-commercial property.
Assuming your relationship weathers the turmoil, your very best bet is to pay off the debts and to fix the defaulting debit orders. By not doing this, and keeping the extent of the bad debts from your spouse, you are creating a situation where creditors can come after your spouse (given you're married in COP) and cause more problems for both your partner and your marriage.
Sit down with your partner, and discuss all the issues. Try and leave emotion at the door: it has no place in financial discussions.
It will take at least 6 months from settling debts to start repairing your credit profile - and much longer if there are any judgements listed against you, so best to get started now.