Since my husband left, I am now responsible for all the credit card debt.?

Question

The credit cards are in my name and I will eventually have to file bankruptcy once I have exhausted all my savings paying them. Should I cancel the cards even though I am not using them?

Answer 1

If there's a chance your husband left with the credit card numbers in mind, definitely cancel the cards.

Answer 2

yeah asap

Answer 3

If you can't afford them then yes. I would suggest that during the divorce you get him to pay his share of the debt so you don't have to ruin your credit or file for bankruptcy. Most creditors will work with if you make an effort to pay. The last thing you want to do is file for bankruptcy. It's the worse thing you could do to your credit rating and it takes years to recover from it.

Answer 4

call dave ramsey he gives awesome advice. uhh if it is in your name then that is your debt i am sorry

Answer 5

well they are in your name but you can file papers and take him to court if you have proof that he spent that money on the cards then you can make him accountable because you 2 where married at the time you got them hopefully.

Answer 6

Cancel them, freeze your credit report.  Try to do some legwork and get copies of receipts from when your card was used so when you take him to court it's easier to prove he used the cards.

Answer 7

Do not use your savings to pay off your debts. Write to all your creditors and send them a copy of your income and expenditure. Explain your circumstances and ask them to stop the interest on your cards and offer them a monthly payment that you can afford to help clear the debt. Most credtiors are sympathetic to difficult situations and would prefer that they get their money eventually than not at all.

Answer 8

First of all, is your husband still using the credit cards?  If the credit cards are in your name only, then I would consider reporting them lost or stolen, and getting replacement cards so that he cannot use the current ones.

That being said, any credit card debt that is accumulated during your marriage is the joint responsibility of both of you, no matter whose name is on the cards.  That means that he is half-responsible for paying these debts.

However, if you file bankruptcy, he will become 100% responsible for paying these debts.  Also, if you truly are considering bankruptcy, I would not continue to exhaust your savings by paying these bills.  Not only are you going to need this money to live on, but any payments you make right before filing bankruptcy can be construed as showing favoritism amongst creditors and can cause problems with the bankruptcy.

It's not that I'm encouraging you to file bankruptcy.  But if you are planning to do so, you should know these things.

Answer 9

Yes you are, but since your husband left are you going to file for a divorce ?  If so remember that all assets AND debts are to be split equally between the partners.  so since the date of his walking out make a copy of the balances as at that date.

the courts do not look kindly on a couple where one party racks up huge bills in the others name and then runs off.

Answer 10

Yep Im afraid so, If its in your name then its your Gig... And that will be the best days work you ever do by cancelling them but that may be a problem, As long as you owe money on them they wont cancel them.. Get a knife and cut them up so you cant use them....Keep a record of the numbers if you want to still purchase items on the net ot book a flight but its better to get rid of them all together...If your Husband has access to the cards or numbers then get rid of them and tell the bank you dont want nybody to use them...Or tell the bank your ex stole them , that would be better because he cant use them at all...

Answer 11

You should cancel the cards yes, you should also notify the credit card companies as well as the credit bureaus.

Answer 12

It's important to determine if you live in a "community property" state. In community property states, credit accounts opened during marriage are automatically considered to be joint accounts. This could affect what you will have to pay.

The following states are community property states:

* Arizona

* California

* Idaho

* Louisiana

* Nevada

* New Mexico

* Texas

* Washington

* Wisconsin

If you do not live in one of these states, you would most likely be liable for the entire debt amount.

Answer 13

i'm sooo sorry, my mom went through this. try to stay away from bankruptcy though. It will be soooo long before your crdeit becomes good enough for a new house or car if that ever is an option in the future. and the answer to your question is yes cancel them.

Answer 14

You need to freeze the cards so no more money is taken out with them. You need to freeze your credit report so your husband can't get approval for any more credit cards. And you need to get divorced, and at the divorce, you can get your debt divided up between the two of you. If you have a good lawyer, he might be able to get most of that debt shifted to your husband.

Answer 15

If his name is still on them cancel them.  You don't necessarily have to file for bankruptcy.  Why are you responsible for all the debt on them?  Is it part of the divorce agreement that you are responsible for all the credit card debt?  If not make sure you lawyer has that in the divorce settlement that he has to pay half the debts.  Go to Consumer Credit Counseling they can help you to make a plan for paying off the debt, lowering your monthly payments and things like that, do this until the divorce settlement is final and then make him pay his half.

Answer 16

file now.  you'll just kill yourself using your savings, and you'll still have to file.

Answer 17

It's your fault for letting him use YOUR credit cards. How irrisponsible. Every choice has a concequence and this is yours. Enjoy.