 TITLE: Are You Saying “I Do” to Your Spouse’s Bad Credit? CONTENT: What About Debt?\n----------------\nGood news: If your spouse entered into the marriage with debt, it will not end up in your legal lap. Of course, it might be a wise idea to deal with a big balance no matter who ran it up because high debt affects credit utilization, which is a major credit scoring factor. It also impacts the amount of disposable income the two of you have to cover bills, enjoy life and save for the future.\nNot so good news: What happens during the marriage is a different story. If you live in a state with community property laws—Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin and Alaska (where you have the option to opt in for community property rules)—and you end up divorcing, financial obligations are typically shared between the two of you. That means you might have to pay for a debt that you didn't accrue, agree to or even know about. The other states have common law property rules, so if you live in one of them, debts that were incurred by one spouse remain that person's liability. The exception is if the balance was for the family's essential expenses. END