Marrying a partner’s credit rating

Marrying your Partner's Poor Credit RatingCongratulations! It’s official – you’re in love and nothing will stop the two of you being together forever. Though there is just that small matter of your life partner’s poor credit and past IVA or CCJ, which of course doesn’t affect how much you love them for being the wonderful person they are. But still, you have a little nagging worry about linking your (until now) immaculate credit rating to that of someone who may have had a more chequered financial history. Will bad credit Karma haunt both of you and cast a cloud over your wedded bliss? Find out here.

Joint Finances?

The good news is that you are not responsible for your future spouse’s bad credit or debt, unless you choose to take it on by getting a loan together. However, your future spouse’s bad credit history can prevent you from getting credit such as joint loans after you’re married. Even if you’ve had spotless credit until now, you may be turned down for credit cards or loans that you apply for together if your spouse has had serious credit problems. Poor credit joint loans will not come at an attractive rate of interest compared to what you (alone) would qualify for, so for the time being until your partner’s credit rating recovers, it is probably wisest and more cost effective to keep your finances separate. Nobody has to integrate their finances when they get married and keeping your bank accounts separate will ensure your partner’s credit rating is not a problem when lenders check your report.

Money trouble

It’s best to sit down and have an honest discussion about this now to agree the way forward. Target improvements which will help both of you. Leaving it till later will make arguments about money more likely and can put a strain on your marriage. Hopefully by now you know why your partner got into financial difficulties in the first place and how they are now dealing with it. Get copies of both of your credit reports and you’ll have the basis for a chat about how you’ll deal with money in the future. If there still is a problem with outstanding debt, consider getting debt counselling together to help you keep on track together. Set up a budget to pay off outstanding debt, so you can see when you’ll be back on an even keel again, giving you hope for light at the end of the tunnel!

Did you know that a consolidation loan could mean you pay less each month? Grouping all your debts together and paying a lower interest rate overall could really help to cut down the amount you pay on a monthly basis. If you think a consolidation loan might help your situation, where you might be able to group your debts together (though sometimes the loan may take longer to pay off and the total payable over the term of the loan may be greater) have a look at www.instantbadcreditloans.net

We wish you all the happiness in the world!

What options do you have when you are thinking of divorce?

The type of divorce or reasons behind it is not same. Divorce can be a complicated process, especially if you have a child. There are four options for divorce. These are mentioned below.

Do-It-Yourself Divorce

Divorce is complicated both financially and legally. There are various chances of making mistakes that are irreversible. If some cases, Do-It-Yourself may look like the best option as you don’t need to go through the hassle of hiring a lawyer. Also, if you have a little asset to divide and no children, you may think of this option. But still, it is highly recommended that you hire an attorney to review the divorce papers.

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Mediation

You can work with a neutral mediator to help both parties reach an agreement. It is not necessary for the mediator to be a lawyer. However, he or she must know all the aspects of divorce well. The mediator must be neutral. The parties must still consult with their attorneys before signing the divorce settlement agreement. This type of settlement leads to a better long-term relationship with the ex-husband as there was no fight in the court.It is better for the children. On the other hand, it is hard to find a mediator who will not support any side. The mediator doesn’t provide any advice also; he or she just helps the couple to come to an agreement.

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Collaborative Divorce

In this type of settlement, there is no need to go to the court. Both the husband and wife need to hire an attorney. Each attorney advises their client to negotiate a settlement agreement. You will meet with your husband and the husband’s attorney as well for the purpose of negotiation. You have to appear in family court so that a judge can sign the agreement. This type of divorce is not effective in the case of complicated financial situations.

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Litigated Divorce

It is the most common form of divorce. In most of the divorce cases, one party only wants a divorce and the other doesn’t. So, mediation or collaborative divorce won’t work in such situations. Also, when there is a child involved, the settlement usually reaches the court. A judge is a person who knows little about your family and properties. But in this case, he or she will be making the final decision. So, litigated divorce is considered to be the last step in most cases of divorce.

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When you are thinking of divorce, you should weigh the options carefully. Everyone’s situation is different. You should choose an option that is best for your situation.

4 things to consider before a personal lawyer

If you become a victim of someone’s carelessness or ill-will, you deserve some justice. The best way to claim your rights is to hire a personal injury lawyer. But hiring a good lawyer can be a difficult task. There are many lawyers out there, and all of them claim to be good. You need to consider these four things before hiring a personal lawyer.

Experience

You will find many lawyers claiming to have 25 years of experience or solve hundreds of cases. But you need to find a lawyer who has experience in solving personal injury cases. Personal injury cases are complicated. Theoretical knowledge is not sufficient to become a good personal injury lawyer. Experience is mandatory. So, find a lawyer who has at least five years of expertise in the field.

Legal knowledge

The legal system of the US is very complex. Many states have different laws. So if you hire a lawyer in New York, he or she must have comprehensive jurisdictional knowledge of New York. A lawyer from California, for example, may know about all the personal injury laws applicable for New York.

Referring out

Many lawyers advertise about providing personal injury services. Once hired, they ultimately refer out cases to other lawyers. This way they get paid a certain percentage of the legal fees. Usually, referrals are made to lawyers having more experience in the field. But you need to know the qualification and experience of the lawyers that you are being referred to. So, before hiring a personal injury lawyer, ask him whether he is going to handle the case himself or refer it out to someone else.

Terms and conditions

Lawyers have different terms and conditions. You should know them before hiring a lawyer. One thing you should know is when the lawyer demands payment. The good thing about personal injury lawyers is that they work on contingency basis. This means that you only pay the lawyer once you receive your compensation. If you don’t win the case, you don’t have to pay the lawyer.

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Take these factors into consideration when hiring a personal injury lawyer. This way, you will increase your chances of winning the case.

5 things you must know before writing your last will

Planning to write your last will is a smart move to protect your family financially after you are gone. An unexpected event can happen at any time in life. So, it is better to write down your will when there is still time. Here are five things you should consider before writing down your final will.

1. Know your state’s laws for writing wills

Every state has a different law. So, you should sit with an attorney in your area. There must be witness signatures, and the will must be notarized.  Some states accept handwritten wills, whereas the others don’t. You should strictly follow your state’s criteria so that you don’t have to spend time and money on court proceedings later on.

2. Decide who will be responsible for minor children

If you have kids who are minor, then it is important to determine who will take care of the children after you pass away. If one parent dies, the other parent takes care of the child. But if both parents die or if one parent is unfit to look after the child, then the court needs to decide on the child’s custody. As a parent, you can nominate a guardian to care for your child in your absence.

3. Determine who the beneficiaries are

There must be a beneficiary for everything in the will. In some families, there may be multiple beneficiaries. Life of a person can change anytime. If you plan for the unforeseen events, then it will be possible to carry out your last wishes.

4. Decide on the executor

You should assign an executor to carry out the tasks according to your last will. You should choose someone you can trust with these sensitive and personal tasks.

5. Choose the methods of writing will

You can write wills in various ways. It is best to hire an attorney for the job. This way, you can make sure that your will is legally valid, and it will be carried out according to your wishes. You can also pay for an online service. There are DIY will making software that can be used as well.

If you are thinking of writing a will, it is recommended that you find a good attorney to guide you. Last will is very sensitive and important; you should write down the will with perfection.