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Q:
Will my future husband's student loan debt affect my credit?

My fiancé has a student loan from almost 10 years ago totaling about $13,000. He has never made any payments on the loan but receives letters from the Department of Education all the time asking for payment in full. I don't want my credit to be messed up because of this but we are not sure where to start. They have never threatened to garnish his wages, but they call all the time. He is under the impression that it is off his credit because it has been over seven years. Also, he thinks that if he starts to make payments then they will report him to the credit bureaus. Can you either dispel or confirm these situations? -Pat

Pat,

I am glad you wrote today, because your future husband’s assumptions are incorrect. The government is steadfast in their determination to collect. The government will withhold tax refunds and garnish wages to repay monies owed. It is only a matter of time. After you marry, this may affect your joint tax refunds. It will most likely remain on his credit report for up to seven years after it is fully paid. Please encourage him to call the U.S. Department of Education at 800.621.3115 for assistance today.

I applaud your open communication with your future spouse. Too often, this type of issue only surfaces after the wedding, causing unnecessary problems. I encourage you to continue this level good communication throughout your marriage.

Congratulations on your upcoming wedding.

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