Legal Question in Credit and Debt Law in New York

My Husband in a Huge Debt Situation

My husband currently owe over $25,000 to four different credit card companies signed under his name. He consolidated the debt and has been paying them for about a year, but now he doesn't have the money to pay anymore. How is this going to affect me? What are the precautions I should take so the collection company doesn't take anything I own away from me? Should I take his name off our bank account, our home, and our car?


Asked on 1/30/03, 2:25 pm

1 Answer from Attorneys
David Slater David P. Slater, Esq.

Re: My Husband in a Huge Debt Situation

Yes, however, judgment creditors may claim this was done to defraud them and seek to have the transfers deemed void.

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Answered on 1/30/03, 10:22 pm


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