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What is the liability of a husband when his wife opens a credit card in his name without his knowledge?
Wiki User
∙ 19y ago
A husband's liability on his wife's credit card account has no bearing on his knowledge of the account. His liability depends upon state law and whether they live in a state with community property statutes. Marital assets and debts belong to both partners under certain states laws. In other states, what is hers is hers and vice versa. This applies to both assets and debts. Even if this particular husband is not liable under the laws of their state; any purchase they attempted jointly in the future would be affected by the debt and the wife's pattern of usage and payment. If you are still married it probably wouldn't have any effect on your liability for debt incurred. If you reside in a community property state, all debts in marriage belong equally to both parties. In other words, not much can be done, unless you choose to charge your spouse with committing forgery/fraud. Your best option is to close the account.
Wiki User
∙ 19y ago
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Can you apply for credit in your husband name?
No, you cannot apply for a credit card in your husband's name without his signature and consent.
Why does my husband use my credit card without asking me is this stealing?
because he`s a man! just hide your credit card.
Can a husband who is unable to obtain a credit card use his wife's extremely good credit rating obtain a credit card on line without his wife's knowledge?
No, because when the credit card company access the credit bureau, they access the name who applies for the credit card, not the spouse's name. It's the primary cardholder who is fully responsible for the debit. If the wife gives her husband an authorized user card from her credit cards and the husband doesn't pay. The wife's credit card will be destroyed if she doesn't pay the debit (even the charges he makes) So make sure you both keep your credit cards separate so that you both maintain your own good credit histories. Especially (heaven forbid) you both separate/divorce
Is The balance on a credit card is a liability?
Yes.... a credit card balance is money owed by the card-holder to the company. Therefore it is a liability.
What is the purchase of equipment on credit recorded by?
A debit to equipment and a credit to liability
Can you apply for credit in your husband name?
No, you cannot apply for a credit card in your husband's name without his signature and consent.
Can the bank go after my husband's money and credit for my non payment on my mortgage if the property was purchased before our marriage and my husband is not on the loan or deed or mortagage?
No. Your husband has no obligations or liability regarding your mortgage.
How is a liability increased by a credit or debit?
Liability has credit balance as normal balance so credit increases the liability which means addition to current liability will increase the overall liability and reduction in liability will reduce overall liability.
How do you increase a liability?
A liability account is a credit account, and credit accounts can be increased by writing a credit in the journal entry. Therefore, a liability is increased by crediting it.
Why does my husband use my credit card without asking me is this stealing?
because he`s a man! just hide your credit card.
How do you record an increase in a liability account?
Any increase is an credit for a liability
can i file bankruptcy without my husband in the state of idaho?
You can only file bankruptcy without a spouse in cases where the debt is yours only. For example, if you have a credit card that is in your name only then you can file without your husband.
What would decrease liability?
Debit balance would decrease the liability as credit balance increases the liability.
When someone dies and their credit card was used without their knowledge is the executor responsible to pay the deceased credit card off if they had no knowledge of it being used?
No,thats wrong if there family its even worse
Can a husband who is unable to obtain a credit card use his wife's extremely good credit rating obtain a credit card on line without his wife's knowledge?
No, because when the credit card company access the credit bureau, they access the name who applies for the credit card, not the spouse's name. It's the primary cardholder who is fully responsible for the debit. If the wife gives her husband an authorized user card from her credit cards and the husband doesn't pay. The wife's credit card will be destroyed if she doesn't pay the debit (even the charges he makes) So make sure you both keep your credit cards separate so that you both maintain your own good credit histories. Especially (heaven forbid) you both separate/divorce
Does accrued salaries have a debit or credit balance?
Credit; liability accounts are always credit
What is credit liabilities?
A liability is something you "owe" another person or company. A credit liability "usually" refers to a credit you owe, for example, an account payable may be classified as a "credit liability". Let's say your company purchased a computer system on credit, the balance you owe for the purchase is your "credit liability."This is a distinction between other liabilities the company owes, such as Salaries Payable, Income Taxes Payable, etc, as these "payable accounts" are generally not of the "credit line", just a debt owed. Credit Liability is generally something the company owes by way of "credit", this does not include other operating expenses.
