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Are You Engaged (with Debt)?

Engaged… and with debt? The Truths about Marriage Debt.

Los Angeles, CA
February 26, 2015

Did you recently become engaged on Valentine’s Day? Congratulations! Do carry a secret debt load your fiancé does not know about? If you do, you are not alone. Many people carry a debt burden they do not share with others, but a major legal event like marriage forces a couple to confront joint financial issues. There are many reasons to address debt issues before marriage. First, the wedding is usually an expensive event and throwing a wedding while in debt seems counterproductive and very stressful. In addition, debt is often one sided in a marriage and one person often feels a personal responsibility to tackle debt before combining assets. An article from ABC news gives couples 4 steps to getting debt free before marriage.

Engaged Couples Should:

1) Talk about Debt
2) Make a Plan
3) Stick to the Plan
4) Celebrate

While making a debt plan, consider consulting a debt settlement attorney. A debt settlement attorney can educate you on various ways to pay down debt fast and cut through much of the wrong information floating around out there about debt. Enter your marriage with a clean slate.

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Kevin Fallon McCarthy is the McCarthy Law PLC’s managing attorney and an experienced Phoenix debt attorney. Mr. McCarthy has also worked as general counsel for a large corporation. He has corporate counsel experience in human resource matters, general corporate governance, and union class action litigation.