There are two instances when one spouse is responsible for the other one's debts. If the account(s) are joint or if the married couple reside in a community property state. Married couples who do not reside in a CP state and do not hold joint accounts are NOT responsible for each other's debts. Generally all debts and assets acquired during a marriage by couples living in CP states are owned and owed by both, however a few CP states have procedures for making an "innocent spouse" claim. Consulting the laws of the state of residency which pertain to creditor/debtor issues should help obtain more specific information. Another option is to obtain the advice of an attorney, most offer free or minimal rate consultations. Some states have consumer affairs departments that can explain the responsibility of spouses concerning financial issues.
If the account is joint then both spouses are responsible for repayment. If the account was incurred during the marriage and is held by one spouse and the couple live in a community property state both spouse's are responsible for repayment. If the account was incurred during the marriage by only one spouse and the couple does not live in a community property state, only the spouse who is the account holder is responsible for repayment.
It depends upon the state in which the couple resided during their marriage, the issue of his incarceration is not really relevant as to which spouse owes debts incurred. If the couple resided in a community property state the wife is responsible for all debts incurred during the marriage including but not limited to credit card account(s). If the couple resided in a non CP state the wife would only be responsible for debts that were incurred jointly. This only applies to a couple who are still legally married, the final terms of the divorce decree generally stipulates how existing debts are assigned.
No. Debts incurred before the marriage belong to the individual, those made jointly during a marriage belong to both. Married couples who reside in a community property state are generally held accountable for debts made during the marriage regardless of which spouse actually incurred the debt(s). (Texas and Wisconsin do not treat all marital debt in the same manner as do the other community property states).
It depends on what state you are from. But I think that it is 50/50 for everything. * Yes, if the debts were made during the marriage and if the couple reside in a community property state. Debts incurred by either spouse after a legal separation order has been issued are attributed to only the account holder. Debts incurred separately by married couples in a non community property state belong solely to the person who is named on the account regardless of the status of the marriage.
No, Debt incurred during a marriage is generally the joint responsibility of both parties, as long as both are co-signers on the credit cards, says Bill Glassner, a financial planner with Glassner Carlton Financial Planning in Cedar Knolls, N.J. "However, if the credit card is in one spouse's name but the other is just an additional cardholder, that spouse isn't responsible. " One exception is community property states, where both are responsible, even for debt incurred by one partner. States with community laws are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin. Alaska is an "opt-in" community property state, in which spouses may agree to be jointly responsible for all debts.
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