You’ve met someone special, and you think there’s a possibility of something real there. However, a serious IRS debt hangs over your head, and you’re not sure how or when to reveal it. And you have cause for concern: a recent CreditCards.com survey found that 55 percent of women and 37 percent of men would break up with a heavily indebted partner. So here are some ideas on how to get the conversation started.
The timing of this critical conversation is a bit tricky. Reveal the truth too soon, and you’ll run off your date—too early, you may scare your date off. That’s why it’s helpful to first consider how you want to be treated. If the shoe was on the other foot, and it was your date who owed the IRS money, when would you want to know about it?
Despite the challenge of telling the truth, it’s usually better to reveal your debt before you get too attached. If for nothing else, it will explain a frugal lifestyle.
After you decide when to reveal your IRS debt, think about the best way to share it.
First, provide context. For example, did a change of job or a family issue cause the problem? The bigger picture can help a significant other process the information and understand why you’re in debt.
Next, share your repayment plans. Show your potential partner that you’re serious about handling your debt and capable of being financially responsible.
Transparency about finances sets the tone for honest and open communication in other areas of your relationship. According to Scott Rick, a University of Michigan researcher specializing in relationships, “Your spending habits can signal broader traits about the person.”
As you think about your future romantically, make sure you also address your fiscal future, so consider contacting Highland Tax Group at 720-398-6088 to help you get on the right path.