The Money Couple Minute - Dealing with Debt

It happens all the time. A couple gets married then tries to rent their first apartment or buy a car or a house only to discover that one of them has horrible credit and they can't get approval for a lease or a loan. Debt can derail a financial relationship before it even starts down the tracks. But it doesn't have to.

Be honest about the past. We find that very few couples talk about their debt when they're dating-it's not the most romantic subject. But debt doesn't go away. So bring it up right now. Today. Seriously. Hiding your debt won't solve anything. Dealing with it will. See our tips on fighting about money to help you navigate this conversation.

Make a plan. Once you discover that one of you has serious debt, get over the anger and shame and start working on paying down the debt. Your bank can help you work out a payment plan that fits your budget, so be honest with them, too.

Stick to your plan. You won't get out of debt without making some sacrifices. So be prepared to spend less for a while and make real changes that will help you live the life you want, together.