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Latest News
March 28 Update: MBNA Alaska Airlines World Elite Mastercard Review (Updated for 2022), new Flight Reviews page & last few days for the amazing KLM sale! + MORE Mar 28th
Here's your Rewards Canada Daily update! Your near daily dose of loyalty program, credit card and travel news, bonuses, deals and more. Today we released an update to our review of the MBNA Alaska Airlines World Elite Mastercard. The card was first reviewed on Rewards Canada in 2013 and I have.... More »
Changes coming to the ATB World Elite Mastercard and Gold My Rewards Travel Mastercard Mar 14th
As first noted on RFD back in February there are some changes coming to several ATB (Alberta Treasury Branch) Mastercards and the accompanying ATB My Rewards program. The changes will take place on June 4, 2024 and affect the ATB World Elite Mastercard as well as the ATB Gold My Rewards Travel Maste.... More »
South African crews helping fight Fort McMurray fire going home early + MORE Jun 9th
South African firefighters are seen on a an Air Canada plane in Johannesburg, South Africa destined for Edmonton on Sunday, May 29, 2016 in this handout photo. THE CANADIAN PRESS/HO-CNW Group/Air Canada-MANDATORY CREDIT
EDMONTON – A group that employs 300 South African firefighters on loan to .... More »
This Week in RWRDS: November 4 – 10, 2023 Nov 11th
This week we look at selecting the right Aeroplan flight award option to maximize the value of your points, the uproar around the American Express Cobalt Card and much more in our weekly credit card and loyalty rewards newscast! Watch This Week in RWRDS here: Listen to This Week in RWRDS here: Topic.... More »
Offer Extended: Earn up to 60,000 Bonus Avios with the RBC British Airways Visa Infinite Card + save 10% on all BA flights + MORE Mar 4th
RBC has let us know they have further extended the best ever welcome bonus on the RBC British Airways Visa Infinite Card. For quite sometime this card had an offer of up to 50,000 Avios however RBC bumped that up by 10,000 Avios last September. It was set to end on February 28 but now y.... More »
What Happens To Debt When You Get Married?
– ratesupermarket.ca
Many couples are getting married with a significant amount of debt. One or both partners might have student loans, credit card debt, a line of credit, an auto loan, or a mortgage. In 2014, Harris/Decima conducted a poll that showed two in five Canadian newlyweds enter their marriages with debt and owe, on average, $21,500.
Also read: The Cost of Love in Canada: $50,339.21>
So, what happens to this debt when you tie the knot or become common law partners? And what happens to debt that you accumulate during your marriage?
This article explores how debt can affect the finances of married or common law couples.
Pre-Existing Debt
The good news is that you won’t be held liable for any pre-existing debt that your partner brings with them to the marriage or partnership. Unless you co-signed for the loan or credit card, pre-existing debt is seen as entirely your partner’s responsibility.
Student Loan Debt
Student loan debt remains the responsibility of the borrower even after you’re married, but marriage or common law status might affect the repayment of your student loans and your ability to take out new student loans…
