She got several credit cards secretly, and ran up the charges, and now it is obvious she can't pay them off.
The first time this happened, as soon as I found out I paid them off, cause her interest rates were beteen and 17% and 23%. and we tord up the cards.
Now I've discovered she has more and the charges are too many for even me to pay off. I have no idea what all she bought and she doesn't remember.
What's going to happen to me, when they come after her?
2006-08-03 17:08:13 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
Thank you both dlfield and echo for your ideas, and thanks to the other answerers; yes, my wife needs "intervention" the way they do with alcoholics and gamblers...
2006-08-04 09:57:56 · update #1
XXXXXXXX they will come after you also. Since you are married her bills are your bills and as long as you don't pay them on a monthly bases you will be charged a late fee every month. Credit cards are no joke with such high interest rate if you owe $2,000 and pay the normal monthy fee plus the high interest by the end of the year you are actually paying $2,400 and add $25 a month for late charges. Your credit score will be damaged and will go down each month. XXXXXXXXXXXXXXXXXXXX
2006-08-03 17:21:59 · answer #1 · answered by asoldierswife 7 · 2⤊ 0⤋
If you're not on the accounts, nothing will happen to you unless you elect to pay. Only if you are a signer on any of the accounts does anyone have any legal recourse to collect from you. If they tell you any different, tell them to call back, record the calls, then file a complaint with your Attorney General's office and/or the Federal Trade Commission (FTC) and send them the recording(s). Not only will the debt probably be charged off and marked "paid in full" (PIF) by the credit card companies, they will be handily fined under the provisions of the Fair Debt Collection Protection Act (FDCPA) for violations.
If they don't do anything like that, simply fax (or mail) them a Cease and Desist letter and the calls will stop (or you can file a complaint as described above with phone records of continued calls as evidence). Then file for divorce! ;-)
2006-08-04 00:24:59 · answer #2 · answered by dlfield 3 · 0⤊ 0⤋
Alot depends on what state you live in.
Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas and Washington are community property states. Meaning what is yours is hers and what is hers is yours.
Whether you live in a community property state or not, it might be best to close bank accounts.
If you don't live in a CP state, open a bank acct in your name only. Move all of your assets into your name only - car etc. Do this before they file suit - if they do file. If you wait until a suit is filed, they may get you and her for hiding assets. And the penalty is pretty stiff for doing that.
If you don't live in a CP state and you are not listed as a joint on the account, they can do nothing to you directly like wage garnishment etc. But, depending on your state exemptions, they may be able to put a lien on your home etc. if both of you are on the deed.
If you have alot of assets, you might want to speak with a lawyer to find out your options.
edited to add: Never - ever - send a full cease and desist (as a previous poster recommended) unless you are out of the statute of limitations for collecting. Doing that, you don't leave them much choice but to sue.
2006-08-04 01:31:02 · answer #3 · answered by echo 7 · 0⤊ 0⤋
If you cannot find a way to pay them off, your account will be handed over to a collections group. They will call and threaten you to pay. If you cannot find a way out you will have to declare personal bankruptcy. This is bad, bad news. Find those other cards and cut them up now!
You won't go to jail, but your credit history will be in tatters. They may also put liens on your paycheck to force you to pay them off.
2006-08-04 00:27:53 · answer #4 · answered by kako 6 · 0⤊ 0⤋
man dude - that sucks - your wife is sabotaging your whole life, you need to get her under control, she is sucking you down that big black hole and you are basically screwed, you should make her get a second job and pay those cards down herself. If she's working, maybe she won't have time to shop.
2006-08-04 00:25:36 · answer #5 · answered by Sleepy Mike 4 · 0⤊ 0⤋
you are on the hook for her too. that is marriage about.
You and She should listening to Dave ramsy radio show. They are come after you and She. She need to go counseling about her out of control spending.
daveramsey.com
2006-08-04 01:06:08 · answer #6 · answered by Hoa N 6 · 0⤊ 0⤋
if you are from india then just don't worry about it
2006-08-04 00:19:09 · answer #7 · answered by Anonymous · 0⤊ 0⤋