Would You Dump Your Valentine Because of Debt?

Would You Dump Your Valentine Because of Debt? Photo (cc) by photophilde

Love doesn’t always come out on top, at least not when debt is involved.

A new poll by the National Foundation for Credit Counseling indicates that a majority of people would have serious reservations about walking down the aisle if their partner was deeply in debt, and some would even go as far as to end a relationship.

The NFCC survey question and results are as follows:

If the person I loved had a large amount of debt, I would:

  • Not marry until the debt was paid – 37 percent.
  • Marry and pay it off together – 46 percent.
  • Marry, but not help pay the debt – 10 percent.
  • End the relationship – 7 percent.

Said Joe Stokes, CEO for Consumer Credit Counseling Service:

When considering the negative ramifications of debt, people may not realize that the associated problems can go beyond credit scores and interest rates. Debt can also have serious, long-lasting personal implications. It appears that debt overrides love, at least temporarily, when deciding to move forward in a relationship. It’s money over marriage.

It’s important to note that credit reports and scores are for individuals. Even if you marry, your credit remains separate. Of course, if you plan on jointly applying for credit, one person’s low credit score could negatively impact your approval and interest rate.

Would you be willing to walk down the aisle if your partner was strapped with debt? Let us know in the comments below or on our Facebook page.

Thinking about moving in together? Money Talks News money expert Stacy Johnson has advice for you in this video:

Popular Articles

10 Food Staples That Are Easy and Cheap to Make Yourself
10 Food Staples That Are Easy and Cheap to Make Yourself

Making any of these key foods yourself will improve your meals and your budget — not to mention your health, in some cases.

12 ‘Disposable’ Items You Should Reuse Rather Than Throw Away
12 ‘Disposable’ Items You Should Reuse Rather Than Throw Away

Are you throwing away money? Before tossing these items that are considered disposable, consider how to give them new purpose.

How I Make a Roll of Paper Towels Last a Year
How I Make a Roll of Paper Towels Last a Year

Here’s the secret to extending the life of a roll of paper towels.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Trending Stories

Comments