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Decide how to handle credit card debt acquired before melding your lives together


Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Divorce
Death of a Life Partner
Military Life


Both of you might have credit card debt that is manageable and can be paid off within the overall plans for handling expenses. In this case, each party will want to proceed with their normal monthly payment plans.

If one partner is entering the marriage or partnership with significantly more credit card debt than the other, you will need to discuss how to handle these past obligations.

You also need to discuss how this debt was accumulated and whether this reveals serious differences in how each of you handles your finances.

The following resources may assist you in deciding how to handle credit card debt acquired before melding your lives together:

Tips for Newlyweds on Talking About Money

A Financial Guide for Newlyweds

Comparing Our Credit Management Skills

Am I LIABLE for my spouse’s PREMARITAL DEBT?

Do We Owe Too Much?


Blending Two Lives Tasks

1. Creating a joint spending plan
2. Building shared credit access and usage
3. Managing dual careers
4. Protecting your income with life insurance
5. Estate planning

Building shared credit access and usage Subtasks

1. Decide how to handle credit card debt acquired before melding your lives together
2. Decide how to handle credit cards going forward in your relationship
3. Understand your mutual debt obligations

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