All Social Security benefits are exempt from any legal action that pertains to creditor debt. Although making charges on accounts when the person knows they are not going to be able to pay is a very bad idea. Unless you are a joint account holder with your mother you bear no responsibility for her use of the cards or for the debt she incurs. What will happen to her is difficult to determine, it is possible that creditors will file a lawsuit to attempt to recover monies owed.
It will affect her credit if she executed the mortgage along with her husband. If her name is not on the mortgage or the property then it will not affect her credit. She should consult with an attorney who can review the situation and determine what her options are. Perhaps the bank would accept a deed from the heirs in lieu of foreclosure.
Yes. Even if your mother is making the payments, the fact that you co-signed will appear on your credit report. Her payment record will affect your credit. Even if the payment history is good, it could affect how much a lender is willing to finance for you because you are still "on the hook" for another property (even though you are "just" the co-signer). They may not lend you all you ask for or quite as much as you could get without that other note being part of your financial profile.
To answer your question: No, the credit of one spouse will not effect the credit of the other in any way. The only time the credit of one spouse will effect that of the other is when both open a joint loan, or joint credit account, in which case those specific accounts will be reported to both of your credit histories. That's it! :o) Hope this answers your question. the last answer is correct. I would just like to add that as a stay at home mother with a husband with bad credit, I am severly affected. His bad credit is 6-10 years old, my credit is immaculate. We can not get a car or a house on credit, we have to pay cash for everything. we can not use my "perfect" credit because I do not work. We can not get approved jointly, and he can not get approved alone because of his horrible credit(even though he makes more than 100,000 a year). If you marry into bad credit it does not affect your score, but it may affect your life.
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