Joint Filing

March 19th, 2007 by Questions

My husband has all of the debt in his name – mostly credit cards that total $50,000. We have a joint bank account with an overdraft of $800 but the overdraft was given to my husband based on his credit score as my credit was not good at the time. Out of all of the credit cards in his name only, there is only one that i have a supplementary card for. I have only used the card about 2 times, the purchases were minimal – maybe $100 worth, but the statement does come in both of our names.
In trying to rebuild my credit, i applied for a m/c and got it with a limit of $2000. It is not secured.
My questions are: Do i have to file bankruptcy if my husband files because of the overdraft and the supplementary card – would they come after me for the money if i don’t file with him?
And secondly, if i do have to file, can i keep the new m/c that i got if i haven’t charged anything on it yet? Do i have to disclose that i have this card and turn it in or can i keep it to help rebuild my credit once i file bankruptcy?
Also, if i did use the card before filing, would i be liable for any charges incurred?


One Response to “Joint Filing”

, A licensed trustee said:

Let’s take these one at a time…

You are not required to file bankruptcy (or a proposal) if your spouse files.

If your name appears on a debt (such as the credit card and over draft account) and your spouse files you should expect the companies involved to try and collect from you.

If you do decide to file yourself you will lose your new Mastercard and any other unsecured credit that you have.

Finally, your last question is,in my opinion, inappropriate. You are basically asking if it is ok to go and use your new card because you won’t have to pay the debt if you file for bankruptcy. Since you’ve asked the question, any charges you make after reading this answer will be suspect. Should you file bankruptcy your trustee will likely require you to repay them in full.

I hope this helps – you should simply cut up that new credit card if you think you are going to file yourself…

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