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CA Lawyer
CA Lawyer, Attorney
Category: Bankruptcy Law
Satisfied Customers: 1655
Experience:  Bankruptcy Attorney
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My ex wife has decided to file for bankruptcy

Resolved Question:

Their is a credit card that she has where she is the primary cardholder and I am the secondary, being the secondary holder how will this affect me when she files for bankruptcy. The balance is 15K. Should I have her assume liability of this before she files. I reside in Florida - Thank you any advice would be helpful
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  CA Lawyer replied 8 years ago.
Did you sign the credit card agreement?

What state did you reside in when the debt was incurred?
Customer: replied 8 years ago.
Reply to CA Lawyer's Post: No did not sign, I reside in Florida
Expert:  CA Lawyer replied 8 years ago.
If a person does not sign and is not a party to the card agreement, then the credit card company would have a very hard time winning a lawsuit against them to collect the debt. They might try filing a lawsuit, but if the person never agreed to have the card or repay it, they should have a valid defense.

If, on the other hand, a person were a co-debtor on the account and the other co-debtor filed bankruptcy, that would leave the co-debtor stuck with the debt and the credit card company would try to collect it from them.

It is pretty important to know where you stand if your name is XXXXX XXXXX account at all. If you somehow agreed to repay the card, then you could be held liable to the credit card company. A good test of this would be to contact the credit card company and see if they would remove your name from the account.

You may also be held liable if you used the card based upon an unjust enrichment theory.

As far as an assumption agreement, that probably wouldn't help much unless the credit card company also agreed to release you from liability.

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