Legal Question in Bankruptcy in Virginia

Spouse bankrupcty, how does this affect me?

My wife currently has about $50,000 in credit card debt. I am "authorized user" on one card but am not part of the account. She owns a car that has been used as collateral for a personal load that I took out (should I pay off that loan before filing). If she files for bankruptcy, will my assests (my accounts that I am making payments on, such as a computer) be effected. I do not care about any other assets such as furniture, ect. Am I liable for any of Her credit card debt? Thank you


Asked on 4/30/99, 12:20 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: Spouse bankrupcty, how does this affect me?

As an "authorized user," you are likely liable for charges made by you, and maybe for the whole account, depending on the card agreement.

As to whether you should pay off the car loan, the question depends on the facts. It may be best not to pay it off so it is encumbered and not available to the trustee.

I am assuming this is in VA. Your separate property and separate debt is not affected by her filing.

She should have counsel with respect to her bankruptcy; you may want to consult with counsel as well.

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Answered on 5/04/99, 12:28 pm


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