Posted by: F. Daniels | 2013-08-05 11:16
I am married in community of property and have no debt. I have just discovered that my husband has tons of debt ( that he incurred during our marriage without my knowledge ) and somebody has told me that I am partly liable for that debt now. Surely that cannot be true – I didn’t co-sign for any of the loans he took out. Please advise.
Posted by: Moeshfieka Botha | 2013-08-05 12:37
Unfortunately, since you are married in community of property - his debt is viewed as YOUR debt too. You do not have to have had any knowledge of him incurring the debt, for you to be liable for it also. If he is struggling to pay the debt he can look as debt counseling as an option - but you will ALSO have to then go under debt review. This will mean that you will also no longer have access to any credit.
It is vitally important that people in a relationship have open, honest communication with regard to their debt and finances.
I hope this clarifies things for you.
Fin24 cannot be held liable for any decisions made based on the advice given by independent experts, and disclaims all responsibility or liability for any damages whatsoever resulting from the use of the site