Dating someone with lots of debt
In simplest terms, a person with a bad credit has incurred debt way beyond their present capacity to repay.A credit rating determines a person’s credit worthiness.For example, maybe you’d date someone that had ,000 in credit card debt, but had a plan to be debt-free within a year. Would you date someone with 0,000 in student loans, knowing that their debt would likely have a significant effect on the timing of buying a house, getting married, having children, travel, etc?But would you date someone that had just ,000 in credit card debt (and was currently sinking further into debt), but had no plan (and no means) to pay it off? When I was ,000 in the hole, I hope nobody would have dismissed me as a potential match just because of my financial situation.Also known as credit score, this is evaluated on the basis of an individual’s history of borrowing money and repaying debts.If he/she has defaulted on repayments, his/her credit rating goes down and the person is said to have “bad credit”.But then why someone else’s bad credit should be a problem for you?The answer lies in the fact that once you get married to this person, knowingly or otherwise, you often end up having tied your fortunes to his/hers.
Like many relationships in which money and debt become a sticking point, there are usually some early warning signs that go unnoticed or overlooked in the first, endorphin-filled rush of a new relationship.blind—and never more than when it comes to our money.But how do you keep from choosing a dubious financial partner while falling head over heels?One was extremely frugal, to the point where it was sometimes frustrating. I think that I could date someone with a moderate amount debt, as long as they had a reasonable plan in place to get themselves out of debt.One was incredibly bad with his money, and didn’t seem to think it was an issue. But there are definitely big differences in the type of debt that someone has.Not to mention research from the National Marriage Project about the most likely predictors of divorce—many of which center around money.After reading these signs, if you’re tempted to say, “Oh, but my lovebunny isn’t like that…,” call your mom or your closest friend and discuss.When a professional meeting planner in Melville, N. began dating the man who would eventually leave her 0,000 in debt, there were some clear warnings signs that he was having trouble with his finances.A part-time comedian, he used to joke about how he was only with her because of her secure job and good corporate benefits."He used to make so many of these jokes," she recalls.When they started getting serious, there were enough red flags about his financial health that she even postponed the wedding for a year until she felt that he'd become more fiscally responsible.