Doing yet more research on Chapter 13. My husband is hesitant to pursue this route as it may affect his military security clearance.

I may file alone and take the hit.

From my research, due to our income, we'd be dong a 100% repay on our debt. I feel certain I can include all debt that is in my name only as well as joint accounts. Since we'd be at 100% repay, our joint account creditors could not go after my husband. In theory, this shouldn't affect his credit score since the BK is in my name and all debt is being repaid.

However, can I include accounts where I am just the authorized user? Does anyone know? I realize I am not liable for that debt but would like to include it. That way, I can clear all our debt in five years with only me filing Chapter 13.

I know I need to ask a BK attorney but thought I'd start here first in my research gathering.

The BK laws provide a stay for co-debtors (as in the case of joint accounts), but does not provide relief for authorized users. Since you are not legally responsible for those accounts (they are not your debts), I don't think you could legally list them in your bankruptcy petition; and even if the creditors filed claims, the bankruptcy trustee could hold those claims invalid (or alternatively, it would actually be illegal for those creditors to file claims knowing that it is not your debt).

So I'm sorry to say, I think your BK attorney will also tell you that you cannot include those accounts where you are only an authorized user.......

Now, in the time leading up to the BK filing, maybe it's possible for you to convert those into joint accounts, which then makes you liable for the debt and then you could include them ????????? (I don't know).

The CII indicator on your credit report (which lists bankruptcy status) is specific to the debtor, not the debt. On your credit report, it would show as "Included in Chapter 13 Bankruptcy". But that CII would not show on your husband's credit report. Therefore, as the account becomes delinquent and eventually charged off, those statuses will still reflect on his credit report.

Thanks for that info, Debt Cruncher. Hmm. Guess I've got more thinking to do!

I know that I should consider settlement before BK. However, from a legal standpoint (avoiding lawsuits,etc), BK just seems best. I owe AMEX 40K so can't repay them rapidly.

But we probably can't afford it if I'm claiming just my debt and our joint debt.

You might want to consider Debt Consolidation before you contemplate bankruptcy. I just learned that if you propose a good-faith plan that proposes to pay at least 60% of the debt, and the creditor refuses, then their claims can be reduced if you do ultimately file a bankrupty: