Credit card in only spouses name

Date: Tue, 01/20/2009 - 22:35

Submitted by anonymous
on Tue, 01/20/2009 - 22:35

Posts: 202330 Credits: [Donate]

Total Replies: 3

I live in Michigan and have found myself like many others, unable to pay my credit card debt. My wife has a credit card with a high balance ($22,000) only in her name. She does not work, nor did she have any income at the time she got it. They just continually gave her more and more credit without verifying additional income. If we cannot pay it and it goes to court, will they be able to collect on it if she has no wages to garnish or can they come after mine? Her name is listed on the house, but after the housing downturn we have no equity and no real cash assets. Will they mark her credit only while leaving mine alone?

Check the judgment exemptions in your state. They can't claim th

Check the judgment exemptions in your state. They can't claim the repayment of debt from you.

lrhall41

Submitted by on Wed, 01/21/2009 - 00:40

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If you're not a co-signer, you won't get dinged on your credit.

If you're not a co-signer, you won't get dinged on your credit. Michigan is a a non-community property so your wages are fine though hers can be garnished; liens can be placed on your home if you're both on this; and if you share a bank account, they could get seized It sounds like you're behind, have you looked into debt settlement?

lrhall41

Submitted by on Wed, 01/21/2009 - 08:24

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credit card debt

If your wife has no job the debts in her name only your upside down in your home loan to worth why not let her file chapter 7 bankruptcy forget debt settlements as your likely to end up with a 1099c showing the forgiveness as income anyway.

lrhall41

Submitted by on Thu, 04/16/2009 - 07:07

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