with out asking me my wife registered a businnes in her name .to get a visa and a credit line,she borrowed 20000 dollars and spend.she owes about another 20000dollar from her own credit cards.if she can not pay the money back .are they go after my money or asset?she borrowed all money an her name but did not inform ed me.
2007-12-09 06:43:47 · 11 answers · asked by spicy 2 in Family & Relationships ➔ Marriage & Divorce
Yes, you are responsible. Go see an attorney about what you can do to protect yourself. Don't stall on this.
2007-12-10 05:36:15 · answer #1 · answered by Simmi 7 · 0⤊ 0⤋
I think if your legally married then what debt she has is yours too. you need to consult an attorney. Maybe see about filing bankruptcy to protect you. Does she have any idea of the mess she has made? I'm sorry that you are going thru this but you need to protect yourself an attorney will know more and should be able to assist you. If the credit cards are in the business name and your not registered with it, then maybe no your not responsible. just talk with an attorney.
2007-12-09 16:46:42 · answer #2 · answered by deerlady2000 3 · 0⤊ 0⤋
Are you seeking a divorce? If so, you need to bring this information to your attorney and have it put in the papers that you will not be responsible for those debts. Otherwise, you could be. If you are staying married, yes, you would probably be responsible if that is the law in your state. So if she didn't pay the debts, the creditors could come after you. Again, a question for an attorney.
2007-12-09 16:14:27 · answer #3 · answered by oh_my_its_linda 4 · 0⤊ 0⤋
Q: I am married but have a credit card that is in my name only, which I have recently defaulted on. Can a creditor or debt collector go after my spouse for repayment of this debt even though his name isn't listed on the credit card?
A: Yes, marriage is like a partnership with each of you jointly liable for any debts incurred during the marriage. It doesn't matter if your spouse is or isn't listed on the card as a joint accountholder, he or she can still be sued, have his wages garnished, etc., just as if he incurred the debt.
2007-12-09 14:51:08 · answer #4 · answered by Tanner H 3 · 0⤊ 1⤋
yes you are, any bills that either one of you make is jointly accountable, only way you can clear that is by a divorce and the judge giving those bills to her since her name is on it. even tho your name is not on it, she is your wife and half of the responisibility falls on you. It is not fair but lots of spouses have been ruined by this type of actions,
They can come after you and your property in order to collect on their loan. your wife should have consulted you before doing this.
New bankruptcy laws will not help you in this instance especialy if you have enough assets to cover the debt.
2007-12-09 14:52:59 · answer #5 · answered by john d 3 · 0⤊ 1⤋
yea..they'll get their money one way or another...
Providing she included your name on the loan.. However, is she making any money in the business, yet to start paying off the loan?
Please know..if the business becomes a success not only your wife benefits but so do you. Support her..the more support she has, the better chance she has of her business becoming successful and profitable!
2007-12-09 14:49:30 · answer #6 · answered by Haley K 2 · 3⤊ 1⤋
You're married, so I would imagine that you are responsible, but I'd ask an attorney. Unless you are planning to divorce, they are marital debts.
2007-12-09 14:49:51 · answer #7 · answered by lady_phoenix39 6 · 0⤊ 1⤋
it's all a matter when these debts occurred. if they occurred while married to you, they can legally go after you in order to get their money, but that's usually in extreme cases.
go talk to a financial advisor!
2007-12-09 14:51:53 · answer #8 · answered by celticbuddha 7 · 0⤊ 1⤋
yes -so be sure that your name is not on any of those accounts and contact an attorney
2007-12-09 15:07:47 · answer #9 · answered by Lunaeclipz 5 · 0⤊ 0⤋
ed, shee be am reespansibul fo har oun dedt. so no bea sadd bout har dait. she am bea to half tu pae fer har darts.
2007-12-09 14:59:04 · answer #10 · answered by Anonymous · 0⤊ 0⤋