debt

How To Protect Your Credit And Assets When Marrying Someone With Debt

You spent your single days building a good credit rating, paying off your debts and saving a nice chunk of change. Your partner? Not so much. In fact, your future spouse has quite a bit of debt.

Marriage is about making it work for better or worse, but it doesn’t seem fair that exchanging vows could unravel all your hard work. Fortunately, it doesn’t have to. Here’s what you should know about protecting your finances when marrying someone with debt.

How Getting Married Affects Your Credit

When two people get married, they combine many areas of their lives. The two of you may share the same home, bank accounts, perhaps even last name. So how does getting married affect your credit?

“The short answer is that it does not,” said Emily Pollock, a partner specializing in matrimonial and family law at Kasowitz Benson Torres in New York. She noted that

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Help With Debt – Get Advice & Compare Debt Solutions

Find out more about debt, ways to avoid getting into debt and the various options you might have when dealing with debt, including Debt consolidation, Debt Management Plan, Individual Voluntary Arrangements (IVA) and Bankruptcy

 

Debt is a word that encompasses a wide spectrum of circumstances – and not all of them are bad. For example, you might have bought a house using a mortgage with a cracking low rate or have a balance sitting on a 0% purchase credit card.

It’s when you are unable to service your debt and it starts to spiral out of control that problems start. But even at this point one thing is for sure – panicking or sticking your head in the sand won’t make it better.

You should consider contacting any creditors you are unable to pay and explain your situation. You shouldn’t worry about this as all financial providers must abide by

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Bob Kline Joins Colliers Debt and Structured Finance Team

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Bob Kline joined Colliers International as Managing Director of Debt and Structured Finance in the Southwest Region. Kline will be based in the Phoenix office, working on capital and finance efforts throughout the Southwest Region and beyond.

Colliers’ David Josker says, “Bob’s experience in institutional debt, equity, refinancing and restructuring will be invaluable to our professionals and our clients, especially during this time of economic disruption.”

Kline has spent his career working in capital markets, both nationally and internationally. He has raised more than $7 billion in capital for commercial real estate development and refinances. He has also handled more than $9 billion in restructurings for builders and developers.

During his career, Kline has held a variety of real estate positions including recently serving as a managing director for JLL Capital Markets’ Western Region, and previously as a senior managing director for Cushman & Wakefield’s

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