2007-11-26 07:32:32 · 22 answers · asked by Dan 1 in Business & Finance ➔ Credit
What a bunch of lame answers.
If everything is as you state, unless you live in a community property State like AZ, CA, ID, LA, NV, NM, TX, WA or WI then there is nothing any creditor can do to your wife.
Only exception would be if they went to court and got a judgment, then they could take 50% of any money in joint accounts if you have any.
2007-11-26 07:44:15 · answer #1 · answered by ? 7 · 0⤊ 2⤋
No, your wife cannot be held legally for your own credit card debt 'directly'. However, your credit card debt can affect her indirectly if you two have a car or a house together because your credit score are now tied to hers on mortgage reports. So, if the debt collector cannot get money out of you, they would be able to sue for your house, which legally you own half. This will then affect your wife. It is just that your wife cannot be held responsible for your debt directly, but her financial status maybe affected by your bad credit indirectly.
Before you do anything, please talk to your wife, and see how she feels. Chances are you can apply for a low balance transfer fee for a while, and try to pay off all debt slowly. You can also worked out a consolidation package with all credit cards, but make sure you don't pay more fees to the consolidation company than you pay your credit card each month.
good luck!
2007-11-26 15:39:52 · answer #2 · answered by madaline 3 · 2⤊ 3⤋
In the eyes of the law the person whose name and social security number that was submitted to obtain the card is responsible for the card. Doesn't matter if your married or not. Anything that has your name on it even if it is joint with hers is subject to garnishment if your state allows. so I guess separate your checking accounts.
with that being said please consider that whom ever you may be married to, related to or live next door to will have to deal with creditor harassment should the card not be paid. No matter what they can not be held accountable, as long as they stay calm seek good counsel and not buy into the creditor threats.. . .
kourtnie
www.debthardship.net
2007-11-26 19:30:28 · answer #3 · answered by Kourtnie D 4 · 0⤊ 0⤋
Only the person who's name is on the card is responsible for the card. Even an authorized user isn't liable, just the card holder. So if your wife isn't a co-cardholder with you, no she is not responsible for your credit card debt.
PS: You mean DEBT, not DEBIT. Two different things.
2007-11-26 15:48:57 · answer #4 · answered by Debdeb 7 · 2⤊ 1⤋
Yes and no it depends on alot of things. Did you include her salary in obtaining the credit card, put her name on the application do you have any other credit cards or credit lines with her. If they can't connect you two together financially then she has nothing to worry about. This doesn't mean they won't attempt to so get ready!
2007-11-26 17:40:45 · answer #5 · answered by askmeguru21 5 · 0⤊ 1⤋
The only way your wife can be held responsible is if she is a secondary cardholder. Since her name is not on the account they cannot come after her they can advise her of the debt but cannot go after her for it because she did not sign a contract with them you did.
2007-11-26 16:39:22 · answer #6 · answered by jv 1 · 2⤊ 1⤋
I worked for a bank. No they cannot go after her for payment. However, if it goes into collections and you have a joint bank account they can take 50 percent of what is in it up to what is owing on the credit cards.
2007-11-26 15:42:05 · answer #7 · answered by dfudge50 2 · 2⤊ 1⤋
it doesn't matter which state you live in, no one is responsible for anyone's debt but themselves!!! if they win a judgement against you, they can and will attach any assets you own singly or jointly. thats the only way your wife can be affected. go to dave ramsey.com and research this topic and how to dump all your debt and start living on a cash only basis. life is so much happier when you owe noone.
2007-11-26 17:24:39 · answer #8 · answered by terry h 3 · 0⤊ 1⤋
It will depend greatly on what state you live and and how community property/liabilities are handled in that state. Florida for instance; debt acquired during the marriage is shared but prior to the marriage is not.
Maybe you can find out what agency regulates consumer debt in your state and look for answers on their site/or by calling.
2007-11-26 16:07:23 · answer #9 · answered by Jennifer M 2 · 0⤊ 2⤋
Your wife's credit will not be affected by your inability to pay back debt that is only in your name.
2007-11-26 16:51:27 · answer #10 · answered by cassie 1 · 1⤊ 1⤋