Living happily ever after means being realistic about finances, and open and honest about all aspects of your life together. While marrying someone who has previously declared bankruptcy does not automatically affect your own credit rating, money management will affect your future together.

Discuss with your intended the reasons that led to a bankruptcy, and the lessons he or she learned about financial affairs. Whether it was a Chapter 7 or Chapter 13 bankruptcy and what led to it can certainly have an effect on your life. Remember that a bankruptcy is reported on an individual’s credit report for a minimum of seven years. With a Chapter 13 court-mandated repayment plan, you might face an additional financial burden as a couple until the debt is repaid. Click here to read more »