Bankruptcy and Divorce: Two Things Never Bargained For
You may have heard that the number one thing that causes tension in a marriage is money. Financial tension can put serious strain on a marriage and can often lead to divorce. It should therefore come as no surprise that when many marriages fail, the spouses wind up with financial difficulties, as well. When wanting to…
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Divorce is a Common Reason for Bankruptcy
Many people are scared of the word “bankruptcy” but it can actually be something that can change your entire life for the better. There are many different reasons that people choose to file for bankruptcy and it is not something to be ashamed of. However, a very common factor when it comes to bankruptcy is…
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Sharing a Bank Account
When in a committed relationship, should you share a bank account or keep your accounts separate? In my opinion, sharing an account is the way to go and here is why: Transparency is key Generally speaking, I believe in transparency and disclosure. Therefore, it only makes sense to share a bank account. Experts have been…
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Inheriting Debt
It’s unfortunate, but many people who pass away leave behind a mountain of debt. I know that this can be concerning to family members left behind as they aren’t sure if they will have to inherit the debt of their deceased family member. Typically when someone dies, their personal debt does not get passed on…
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Co-Signing? Read this first!
Many people who are in debt need a co-signer to sign loans, which is a great way for a debtor to build their credit score. The problem is, it might be hard to get a co-signer to sign your loan. That is because a co-signer is essentially on the hook and responsible for paying back…
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Is my debt also my spouse’s debt?
Your debts do not affect your spouse’s credit rating! Regardless of your relationship status, whether you are married or common law, you and your spouse are two separate legal entities. Your spouse is not automatically responsible for your debts simply because they are your spouse or may have a spousal card on one of your accounts….
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