Newbie needing advice big time

[rodv66]

I would really appreciate any help. My wife has about 30 grand in credit card debt and is out of work. All of her cards are in her name only and she has no assets. Our cars are in my name only and the lons are in only my name. She got accepted to nursing school and we will be paying almost a grand a month for child care. Needless to say, we have no way to pay these cards off.

Amex is threatening to sue her and she got a letter from thier lawyer. She owes them 7 grand. With no job or assets, is she considered judgment proof? Our checking account is a joint one, but only my paycheck goes into it. We are wondering if she should declare BK or just show that she's flat out broke. We live in NJ, so I'm not legally responsible for her debt.

[ForumReader]

I would really appreciate any help. My wife has about 30 grand in credit card debt and is out of work. All of her cards are in her name only and she has no assets. Our cars are in my name only and the lons are in only my name. She got accepted to nursing school and we will be paying almost a grand a month for child care. Needless to say, we have no way to pay these cards off.

Amex is threatening to sue her and she got a letter from thier lawyer. She owes them 7 grand. With no job or assets, is she considered judgment proof? Our checking account is a joint one, but only my paycheck goes into it. We are wondering if she should declare BK or just show that she's flat out broke. We live in NJ, so I'm not legally responsible for her debt.

You might want to start by talking to several bk attorneys through free consults. Most of them will offer free consultations. Prepare a list of questions you and your wife want to know about in regard to filing for bk. I am not sure if your wife is judgment proof. Bring this up to a bk attorney. Good luck.

[rodv66]

thanks, this sucks so bad. feels like an avalanche at times

[newbie2]

I would really appreciate any help. My wife has about 30 grand in credit card debt and is out of work. All of her cards are in her name only and she has no assets. Our cars are in my name only and the lons are in only my name. She got accepted to nursing school and we will be paying almost a grand a month for child care. Needless to say, we have no way to pay these cards off.

Amex is threatening to sue her and she got a letter from thier lawyer. She owes them 7 grand. With no job or assets, is she considered judgment proof? Our checking account is a joint one, but only my paycheck goes into it. We are wondering if she should declare BK or just show that she's flat out broke. We live in NJ, so I'm not legally responsible for her debt.

First, there is no such thing as judgment proof. A judgment, once in place, can stay with your wife for a very long time and in many states, be renewed. (Once she starts working her paycheck can be garnished to satisfy the judgment). She may be collection proof now, but I'm sure that won't always be the case.

Secondly, open up another bank account in just your name and have your paycheck deposited into that account. Since your checking is joint anyone receiving a judgment against your wife will surely try to tap in to that account. Having to prove the funds are yours only will be a pain in the tush, so be proactive.

[rodv66]

thanks, should i just remover her from the joint account? as i said, she has no job or income, so i wasn't worried about it yet. i am going to get a consult from a lawyer. anyone know a good one in nj?