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In The Beginning, There Was Debt.


Way back when my husband and I met, I had no idea he was already in a financial bind.  I was single, had a great job, and super squeaky clean credit.  I pretty much could buy what I wanted. I had a great apartment full of nice furnishings. I owned a Chrysler Laser and a 1974 Corvette, royal blue, 4 speed, convertible. Yes, I was doing quite well.

I was quite taken by my husband at the time. He was impressive, he had a heart to help others, he was extremely handsome. We spent a short while courting. Oh, and by the way, we lived at separate ends of the country.  I had been vacationing when we met. We stayed in touch after I returned home.  I was in the mode to make a big change in my life, so I sold all my non-essential things (which amounted to almost everything) including my beautiful Corvette!  I downsized completely, loaded my car and headed across the country to start on a new adventure.

Well I arrived, we courted, we married. I did know at the time I married him that he lived a different type of existence than I had. He lived cheaply, he ranched for a living, he had debt. He did work very hard in his ranching business, but money does not flow from that. Its a very up and down business depending on the markets and long periods of time go by with no income. I guess I was a little charmed by this simple way of life though, and didn’t realize the long-term effects.

About a month into our marriage, the IRS came calling. My husband owed over $10,000 for back taxes from a botched non-profit business he owned before we married. The business had gone down the drain a year before, but the tax debt remained.

Oh, and then there was his nice, new 1 ton pick-up. Yes, also about a month in the bank came and collected that from us. They took the vehicle, sold it for less then it was worth, then sent us a bill for the difference.

So, how long does it take for one’s credit to be ruined once united in marriage? Well, lets say, a month! It realistically was a little longer than that because the pick-up was only in his name. The IRS debt was cleared up because I borrowed money from my Dad to pay it off, then paid him back over time. But all in all, before I knew it, my great credit was brought down quickly by being tied to my husband in marriage.

For better or for worse I guess they say…:)

That’s it for today, come back often, stay long, leave happy!


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Posted in Debt Management, Relationships.

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