Hi all!
Such a great forum here, with so much valuable information. Thank you for that. I've already read the first 17 pages of this one alone!
Here's the basics --
The bulk of our debt is in my name. My husband was at some point an authorized user on a few of my cards, but we began the process of separating our finances 2.5 years ago. The only joint accounts we have are our Costco card (which only is used when they charge our yearly membership to it), our mortgage, and our HELOC. None of the credit cards were ever joint. I just pulled both our Experian credit reports last night, and on the two "biggies" he shows as "not responsible". For me they are listed as "individual".
We are not behind on anything, by the grace of God. But it's so disheartening to pay pay pay and not get anywhere, especially when I have these CC jokers raising rates "to maintain profitability" on my account.
I would be putting the following into the Ch. 13:
Chase - 19k
Amex - 13k
B of A - 1700
Chase - 140 (assuming I don't pay this off first)
Discover - 4200
FNB - 5600
I'm tired of this game. I want to be done with them all. So, we are looking at me filing Chapter 13, probably in about 3 months or so. My husband has some anxieties about it however, and I'm hoping you can help me calm his fears. (We will of course be seeing a lawyer at some point, but are in the early stages and have questions).
1) Will my name being on the house, mortgage, and HELOC put any of those in jeopardy? The mortgage & HELOC will NOT be in the Ch. 13. I am willing to sign a quit claim deed (or whatever) to remove my name from the house, but I cannot be taken off the mortgage & HELOC without him refi-ing in his name only. Which is something he is considering.
2) My husband is self-employed (sole proprietor). I am an authorized signer on his business bank account. He worries that they will "come after" his business account when I file Ch. 13. I told him that was quite unlikely, being that it's *his* business account, plus I don't think they do that in a 13 - do they?
3) He is also concerned that, after all is said and done, creditors will "come after" HIM in an attempt to collect whatever they weren't paid. I told him that from my understanding, when a Ch. 13 is done & discharged, that's it. They CAN'T get anything more. Correct?
I'm sure he's got more questions, but I thought I'd toss these out there. Thank you all.
Such a great forum here, with so much valuable information. Thank you for that. I've already read the first 17 pages of this one alone!
Here's the basics --
The bulk of our debt is in my name. My husband was at some point an authorized user on a few of my cards, but we began the process of separating our finances 2.5 years ago. The only joint accounts we have are our Costco card (which only is used when they charge our yearly membership to it), our mortgage, and our HELOC. None of the credit cards were ever joint. I just pulled both our Experian credit reports last night, and on the two "biggies" he shows as "not responsible". For me they are listed as "individual".
We are not behind on anything, by the grace of God. But it's so disheartening to pay pay pay and not get anywhere, especially when I have these CC jokers raising rates "to maintain profitability" on my account.
I would be putting the following into the Ch. 13:
Chase - 19k
Amex - 13k
B of A - 1700
Chase - 140 (assuming I don't pay this off first)
Discover - 4200
FNB - 5600
I'm tired of this game. I want to be done with them all. So, we are looking at me filing Chapter 13, probably in about 3 months or so. My husband has some anxieties about it however, and I'm hoping you can help me calm his fears. (We will of course be seeing a lawyer at some point, but are in the early stages and have questions).
1) Will my name being on the house, mortgage, and HELOC put any of those in jeopardy? The mortgage & HELOC will NOT be in the Ch. 13. I am willing to sign a quit claim deed (or whatever) to remove my name from the house, but I cannot be taken off the mortgage & HELOC without him refi-ing in his name only. Which is something he is considering.
2) My husband is self-employed (sole proprietor). I am an authorized signer on his business bank account. He worries that they will "come after" his business account when I file Ch. 13. I told him that was quite unlikely, being that it's *his* business account, plus I don't think they do that in a 13 - do they?
3) He is also concerned that, after all is said and done, creditors will "come after" HIM in an attempt to collect whatever they weren't paid. I told him that from my understanding, when a Ch. 13 is done & discharged, that's it. They CAN'T get anything more. Correct?
I'm sure he's got more questions, but I thought I'd toss these out there. Thank you all.
I have $20/paycheck taken out for a Flexible Spending Account through my employer. Our collective bills (without my credit card payments included) total about $4800 each month.
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