When you start dating someone, you don’t want to start embarrassing conversations about some of the components of the past of your second half. But, if the relationship has already lasted for some time and thoughts about the wedding or living together, you should exercise some caution and discuss financial issues. Many in such conversations think about the future, try to plan some big purchases tomorrow or in a year, or when children will appear. But much more attention should be paid to each other’s financial past.
In developed countries, a new mass problem is emerging. This is a debt that is transferred from one partner to another. In America, for example, there are already specific numbers for example. Thus, every third solvent American has a debt inherited from his partner. This is more than 70 million people.
How much is the total debt received in this way?
Large analytical centers have calculated the average debt in the country, which was received from a partner. This figure is almost 11.5 thousand dollars. Total such debt counted at 250 billion US dollars. If we compare this figure with another common ailment, which appears as a result of careless intercourse – sexually transmitted diseases, then the “damage” is estimated at only 16 billion dollars.
The most common way to get someone else’s debt is to marry him. Of all the respondents, 28% report that they received such a debt from their partner at the wedding altar. There are more “unpleasant” numbers, for example, 25% say that the purchase was made in their name. A 20% of the joint account, but eventually had to pay one. 16% of respondents said that the partner made a purchase without notifying them.
Credit card is at the head of all
The most common type of debt that had to be paid for a partner is a valid credit card, more than a third, namely 37% of those surveyed, paid off a loan using a partner’s credit card. The second place is occupied by car loans – almost 20% of all. Closes the top three student loans, which are just beginning to gain popularity in our country – 14%.
Mortgage loan, which one of the spouses had to take on almost at the end of the list of types of loans transferred in this way. But, nevertheless, every tenth took on such a debt, and the average such debt in the United States was more than $ 93,000. The next most expensive was a student loan, then a consumer loan issued for the purchase of household appliances or for repairs.
Wedding and Divorce
Through marriage, the most debt was transferred to the partner, the men assumed a little more than the women. But at the divorce of women who had to assume the debt of the former partner, it was more. Interestingly, in the case of a general purchase (perfect for the total bill), women were more likely to take on all the debt themselves than men. As well as in situations where the purchase was made in the name of a woman or when a partner completely concealed the opening of a new debt.
How to protect yourself from “unexpected” debt?
Good relationships depend on attention to each other and frequent discussion of the common and personal problems of each. Do not hesitate to start a similar conversation about the debts of your partner. Perhaps such a conversation will allow you to better know the person with whom you want to live your whole life.
If the partner expects that you will pay his loan, and he will forget about the problem – this is a signal to not a serious attitude towards life and to you as well. If you do not have any secrets, you should come up with a reliable plan to get rid of debts.