A couple of questions for a newbie here

[davie20001]

Hi all,

Love the forum...It has answered alot of my questions and concerns. I have a couple of questions if you don't mind answering.

The wife and I have about $60k in CC debt. Yeah, alot and ashamed of it. Two cards are in her name and the couple of others I am the main holder. I don't want the wife to suffer if I decide to go BK. Can I transfer her cards into my name and take her off the cards and then file for BK?

Also, my work involves gov't consulting, which means background checks and even security clearances (I have a DoD secret clearance). If I file, what does that do to my current clearance and future ones?

Thanks for any responses.

Dave

[Amy26]

I work for HUD (as a contractor) and I was told that it shouldn't be an issue. I also read that its against the law for them to discriminate against that. My superiors told me that when I applied for my clearance it was a snapshot in time ....they actually asked me if I had filed for bankruptcy or if I was more than 30 days late on any bills. When I filled out those forms 2 months ago I was not more than 30 days late or had filed for bankruptcy. They also said that I cannot predict the future.

[keepmine]

Don't transfer her balances to your cards and then file. If you do, you run the risk of your creditors who accepted the BT to strenously object. Also, on the joint cards, it's up to the creditor to decide if they will release a party. It's not your decision. If she's an authorized user, then go ahead and remove her.
If you've made the decision to file, stop using all credit cards right now.

[davie20001]

Keepmine,

I wasn't planning on transfering balances, as I am maxed out anyway. My question was she has 2 cards where she is the primary and I am the add on. Can we make me the primary on those 2 cards and completely take her off the cards and then when I file, she is not responsible or takes the hit, per se.

Thanks.

[keepmine]

Keepmine,

I wasn't planning on transfering balances, as I am maxed out anyway. My question was she has 2 cards where she is the primary and I am the add on. Can we make me the primary on those 2 cards and completely take her off the cards and then when I file, she is not responsible or takes the hit, per se.

Thanks.

You can ask but, it's unlikely your creditors will agree.

[JRScott]

Keepmine,

I wasn't planning on transfering balances, as I am maxed out anyway. My question was she has 2 cards where she is the primary and I am the add on. Can we make me the primary on those 2 cards and completely take her off the cards and then when I file, she is not responsible or takes the hit, per se.

Thanks.

Very doubtful they'd allow that.

They'd most likely cry foul if they did that and then you filed bankruptcy.

They'd probably allow you to move to a joint account but I doubt they'd ever take her off unless the bill was paid in full closed and another account opened in your name.