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  1. #1
    Join Date
    May 2008
    Posts
    4

    Default Credit Cards and Bankruptcy

    My question involves bankruptcy in the state of: Texas


    We are looking at filing bankrutcy and have a few questions about credit cards.
    1.Is it true you can no longer claim credit card balances on bankruptcy?
    2. If credit cards were in personal name but used for business purposes can the cards be written off when the business fails?
    3. Can a credit card company post to my credit report the credit cards unpaid, even if I did not sign any contracts, only my husband signed them?

    Thanks for you help
    M

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Credit Cards and Bankruptcy

    1. No.

    2. If you personally guaranteed them, they're personal debts.

    3. Did he sign your name to the contracts?

  3. #3
    Join Date
    May 2008
    Posts
    4

    Default Re: Credit Cards and Bankruptcy

    He said no, he did not sign my name to anything. He did get cards (seconds for spouse) with my name on them. I did not sign anything or authorize anything. I never used the cards, He was the only purchaser for his business.

  4. #4
    Join Date
    May 2008
    Posts
    4

    Default Re: Credit Cards and Bankruptcy

    Is it possible for one person in a marriage to file bankruptcy and not the other or do you have to file joint?

  5. #5
    Join Date
    Dec 2007
    Location
    Ohio
    Posts
    2,006

    Default Re: Credit Cards and Bankruptcy

    Quote Quoting strwbblond
    View Post
    Is it possible for one person in a marriage to file bankruptcy and not the other or do you have to file joint?
    Yes its possible for one person in the marriage to file without the other or jointly.

  6. #6
    Join Date
    Apr 2007
    Location
    Il.(near StL,Mo.)
    Posts
    5,252

    Default Re: Credit Cards and Bankruptcy

    Just for your info re just one spouse filing for bankruptcy in a community property state which Tx. is.

    In those states with community property laws, a spouse who does not file for bankruptcy still can face creditors’ claims if the other spouse files. In such a case, the non-community property of the filing spouse is utilized first to pay the debts, but if this is insufficient, community property can be used. The rules for exemption of property do still apply, however, and they may protect community property. Even in states with community property laws, some separate property (such as property acquired individually, especially before marriage) cannot be taken by creditors when only one spouse files.

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