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When it comes to committing to a relationship, nearly 75% of Americans find debt to be a deal breaker.

Your finances say a lot. No, it’s not about how much you can spend on a date or the next Valentine’s Day gift. But rather a signal to a potential partner about your ability to make good financial decisions and future stability.

According to a recent survey from Finder.com, nearly three-quarters of American adults (72%) were turned-off by another person’s debt. This could shrink your “pool of potential matches by roughly 182.8 million adults.”

Credit card and student loan debt are the biggest concerns.

Fifty-six percent of survey respondents cited credit card debt as the biggest turn-off, with $12,615.96 being the cut-off for many potential matches. Following closely behind is student loan debt (52%). Respondents became most alarmed when that obligation exceeded $48,761.15. This is concerning as two in five Americans graduate with student loan debt. Rounding out third was payday loan debt with 49% of respondents citing concern. Payday loans have the lowest tolerance among respondents with a threshold of only $4,885.52. This is likely because of the notoriously high-interest rates associated with these loans.

Not all debt is viewed the same.

Interestingly, survey respondents were most forgiving when it came to mortgages (49%), auto loans (49%), personal loans (45%), and medical bills (45%). Presumably this is because mortgages and auto loans are viewed as necessities in today’s climate and an indication of financial stability. When it comes to personal loans and medical bills, these debts are often not associated with making poor financial choices.

Men and women accept debt differently.

The survey also found that overall, men were more accepting of debt in a potential match. However, men were more likely to shy away if a partner owes student loan or mortgage debt. On the other hand, women were more likely to shy away from a relationship if their match had payday loans, auto loans, personal loans, credit cards, medical bills and home equity loans. Again, with such debt often signally financially poor choices or instability.

What can you do?

It’s good rule to never discuss religion, politics and money on a first date. But if matters are becoming serious, then finances are certainly a topic to bring up. If you have debt, be proactive about it. Create a plan to address it and share it with your significant other. You may have made poor financial choices in the past, but you’ll want to show that you’re handling it. If you are struggling with overcoming debt, it may be beneficial to discuss the matter with a financial planner or even a bankruptcy attorney. That way it doesn’t become a burden on your future as a couple.

Ready to Take the Next Step?

If you’re ready to take the next step, I encourage you to contact me or call (317) 883-7350 for a free, no obligation consultation. We’ll meet face-to-face and discuss your particular situation. We’ll review your options under the Bankruptcy Code, discuss whether a chapter 7 or chapter 13 bankruptcy is a right fit for you, and develop a strategy for getting you back to the life YOU want to live!

Law Office of Matthew M. Cree, LLC - Small Tree LogoAbout Matthew Cree
Matthew Cree is an attorney and counselor at law focusing on bankruptcy and collection defense in Greenwood, Indiana. His philosophy is to be there with his client every step of the way and to make bankruptcy as stress-free as possible.




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