the credit card was only in her name(no joint or authorized user)so the company is saying that since the house was in both mom and dads name he is responsible to pay her debt(9,500) because he can sell, mortgage the house to pay the debt.she left nothing, They say its texas law.
2006-08-18 06:32:02 · 10 answers · asked by la 2 in Business & Finance ➔ Credit
they were married
2006-08-18 06:41:42 · update #1
First, in TX, they can't take your house. If they are threatening him, he needs to notify the Attorney General.
Credit card debt is unsecured debt and has no colateral attached. Think of it as a signature loan.
If your parents were legally married or common law he IS responsible for the debt. TX is a community property/debt state. If they were divorced then the decree should state who was responsible for what debt.
The credit card company should be willing to work out a payment program with him. If not, it will go on his credit history.
2006-08-18 07:46:26 · answer #1 · answered by Tim B 4 · 0⤊ 0⤋
No credit card can take your house.
In fact some credit experts used that to save people, their home.
A man lost his job and was going to lose his house, but had good credit and so got quite a few credit cards and put some of the morgage on each one until the house was paid off.
No one company could take the house.
Another thing you could do is get two or three more credit cards and pay down the balance on the one card.
No company will come after you for say under 5, 000 .
They can scare you and make you think that they can and you feel forced to sell and pay them off. But truth is there is very little they can do. If you used the house as collateral maybe they can cause you trouble. But if it was an unsecured loan as most credit cards are. There is nothing they can do but ruin your credit. Your best bet get the two other cards and have a low balance on all of them. Get it down to around 3000.per card.
Divide and conquer.
2006-08-18 06:48:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Tim B is correct. In Texas (which is a "community property state") , both spouses are responsible for the debt.
I'm not certain of this (need to research it a little) but a lien could be placed against the home. They can't take your home, only place a lien on it. You could not sell the home until the lien has been paid.
If there is a divorce involved in this, that will complicate things a bit more, so you need to get some advice from a lawyer familiar with Texas collection laws.
2006-08-18 12:23:21 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Studly and Tim are correct on this.. but you need to consult an attorney of this, with a divorce and all. If the credit cards stated before you were married they cannot do anything at all. Most likely they are using scare tracts they do this very well. lets say the debts are like this 1 card 3k 2nd 4k 3rd 2k it more then likely they will do nothing, its not worth there while. unless you have lots of equity involved then refinance and hide your equity lets say in account with your name. then they will not bother with a lien. Its a big game but i would not jump the gun and pay them. If they threaten you with they probably will know your rights and be prepared for a battle.
2006-08-18 17:11:55 · answer #4 · answered by sarah a 2 · 0⤊ 0⤋
Absolutely. Just like a non-working spouse can buy a home using the working spouse's credit, married couples are responsible for debt incurred by either partner.
You say there "were married". Has your mother passed away? If so, than all her debts are applied to her estate.
If they are divorcing, they'll have to split debts/assets, including those debts incurred by only one of them. If the divorce is final, and your mother has failed to pay the balance, your father can't be held responsible.
Circumstances are always different, seek out a lawyer's advice to be safe.
2006-08-18 10:48:49 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Sorry to your loss. It rather relies upon on the composition of your father's assets. Did he ever make your mom his power of criminal expert? meaning she could shelter his economic responsibilities after loss of life? if it rather is the case then particular there is an criminal accountability for her to pay. incredibly if the account is joint, if the money are defaulted on then her pristine credit will definetly get tousled. Does she have the economic skill to pay? Did your dad have any existence coverage? would desire to she use that money? How approximately any effective sources? Please have your mom touch the credit card business enterprise and artwork out a charge plan. Being hounded for money will in basic terms upload to her already distressing situation. each and all of the terrific !
2016-09-29 10:07:59 · answer #6 · answered by ? 4 · 0⤊ 0⤋
i would,'t think that a credit card could do that. especially since its in your moms name. he should call his lawyer and see what they tell him. if the divorce is finalized and this wasn't mentioned in the debt accumulated by both then i don't think they can but i live in Iowa not Texas.
2006-08-18 06:49:35 · answer #7 · answered by Anonymous · 0⤊ 0⤋
If they are divorced, this should have been brought up during the settlement.
If he can prove that she opened the account AFTER the divorce, then he has no liabilities to it. If it was opened during the marriage, he could very well be responsible for it.
2006-08-18 06:54:54 · answer #8 · answered by tweetymay 6 · 0⤊ 0⤋
Depends on the state you live in and the joint laws
2006-08-18 06:40:03 · answer #9 · answered by Ron K 3 · 0⤊ 1⤋
I dont think so..
2006-08-18 23:32:13 · answer #10 · answered by huh h 2 · 0⤊ 0⤋