credit card question
I am maxed out on a credit card and facing certain bankruptcy. This card has been used by me for approx. 7 years. I obtained a supplementary card for my wife, however, she never signed any paperwork, nor did she ever activate or use this card. In fact she is not even aware that the card exists. Will she be responsible for this card if I file bankruptcy?
In normal situations you do not have to return everything you bought upon filing personal bankruptcy. In a bankruptcy all creditors automatically file with the trustee a list of all transactions in the previous three months. However, if the creditor believes you have abused the credit cards, they can review transactions for at least a year in the past. If they suspect that you borrowed from them during that period before bankruptcy, and knew that you couldn’t pay it back, the creditor has the ability to apply to the court to have these debts survive bankruptcy. As well, if you made any unusual purchases in the year prior to bankruptcy (i.e. you bought a new dining room set), then you would be required to provide funds into your trustee’s office that are equivalent to the purchase price of the property.
If you believe any of these are going to be an issue you should discuss this with your bankruptcy trustee to fully explore your options as soon as possible..
There is no problem with this, it is very normal. As long as the card is not in your name your really don’t have anything to worry about.
As long as she has never used the card, never activated the card, nor has signed any paperwork relating to this account she shouldn’t be responsible for any of the debt on this account.