Will I be forced to file for bankruptcy if I share a credit card with someone? 22 Answers as of June 17, 2011

Both our account are linked to this credit card. She is in the process of filing for chapter 13 bankruptcy. I do not want this to go on my record, but our names are both linked to the card. Will I be exempt from this case?

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Lakelaw - Loop Bankruptcy
Lakelaw - Loop Bankruptcy | David Leibowitz
If someone files a chapter 13, you are eligible for protection under the "co-debtor stay" provisions of the bankruptcy code even if you don't file yourself.
Answer Applies to: Illinois
Replied: 6/17/2011
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
The case will not affect you, But you need to pay the joint card to keep your credit rating.
Answer Applies to: California
Replied: 6/17/2011
Ursula G. Barrios Law
Ursula G. Barrios Law | Guillermo Machado
You are liable on the debt as a co-signer if you don't file BK.
Answer Applies to: California
Replied: 6/16/2011
Law Offices of Joseph A. Mannis
Law Offices of Joseph A. Mannis | Todd Mannis
The credit card company is still free to pursue you as you have not filed.
Answer Applies to: California
Replied: 6/16/2011
Bankruptcy Law office of Bill Rubendall
Bankruptcy Law office of Bill Rubendall | William M. Rubendall
If you share a credit account with someone else who files for bankruptcy that person's bankruptcy will not be on your credit report.
Answer Applies to: California
Replied: 6/16/2011
    Rosenberg & Press
    Rosenberg & Press | Max L. Rosenberg
    You will not be forced to file a bankruptcy simply because another person has either managed to discharge the debt as to themselves. However you will still be liable for the full amount of debt. If in the Chapter 13 your co-debtor creates a plan to pay back the debt, then perhaps that will satisfy any need for you to pay on the debt. However, you are still responsible if the other party defaults. Thank you for tuning in!
    Answer Applies to: Connecticut
    Replied: 6/16/2011
    Benson Law Firm
    Benson Law Firm | David Benson
    You will be on the hook for any amounts not paid through your co-debtor's Chapter 13 plan. But the co-debtor stay should prevent the lender from any collection efforts during the life of the plan, and her bankruptcy should not show up on your credit report.
    Answer Applies to: Ohio
    Replied: 6/16/2011
    Law Office of Maureen O' Malley
    Law Office of Maureen O' Malley | Maureen O'Malley
    You will be held responsible for the card if you are obligated on it. If you are just an authorized user, have that removed before she files. If you are paying for it, or if the creditor doesn't seek payment from you but reports it on your credit report, demand that they correct it as it is illegal and you may sue if they refuse.
    Answer Applies to: Virginia
    Replied: 6/16/2011
    Greifendorff Law Offices, PC
    Greifendorff Law Offices, PC | Christine Wilton
    No, the debt will not be exempt from her case. You will not be forced into bankruptcy so long as you are able to continue to pay that debt because since she can no longer pay, and her liability as to that debt will be discharged leaving you solely liable.
    Answer Applies to: California
    Replied: 6/16/2011
    Jackson White, PC
    Jackson White, PC | Spencer Hale
    You will not be forced to file bankruptcy just because a co-signer on a loan has filed. However, you would still be liable for the entire debt. One thing you should consider and verify is whether you and the other person are actually co-signers on the account. To be co-signers you have to have actually signed and affirmatively accepted liability for the entire debt on the card. Just by virtue of having a credit card with your name on it does not mean you are a signer on the account. Another thing to consider is that if you are both co-signers on the account then the lender will report to the credit agencies that this account is involved in a bankruptcy. You credit report will not show that you filed bankruptcy, but it will show that this particular debt was involved in a bankruptcy.
    Answer Applies to: Arizona
    Replied: 6/16/2011
    Diefer Law Group, P.C.
    Diefer Law Group, P.C. | Abel Fernandez
    If you have a joint account and the other person files for bankruptcy, you will not be affected. It will show on your credit report that the account is in bankruptcy but it should not affect you. The main issue is that you are still liable for the debt if it is a joint account. So, what you need to know is if the other person will pay the debt in the chapter 13 plan. If not, you would still owe the money.
    Answer Applies to: California
    Replied: 6/16/2011
    Burnham & Associates
    Burnham & Associates | Stephanie K. Burnham
    In the event that you share a credit card with someone and they do not pay the debt, you are responsible for payment of the debt. You will not have to file Bankruptcy, however, to avoid your credit from being damaged you will want to make the payments on the card until the card is paid off in full.
    Answer Applies to: New Hampshire
    Replied: 6/15/2011
    Bird & VanDyke, Inc.
    Bird & VanDyke, Inc. | David VanDyke
    If you are jointly obligated on a debt with another person you are both equally responsible for the debt. The creditor can come after either party if they are not receiving payment. In your case, since she has filed bk on the mutual debt you will be forced to pay the debt. You cannot be forced to file bk.
    Answer Applies to: California
    Replied: 6/15/2011
    Law Offices of John J. Ferry, Jr.
    Law Offices of John J. Ferry, Jr. | John J. Ferry, Jr.
    No, you will not be forced to file for bankruptcy. Her bankruptcy will not show on your credit report. However, if the co-debtor on the credit card files, the credit card company will look to you for payment.
    Answer Applies to: Pennsylvania
    Replied: 6/15/2011
    The Law Office of Mark J. Markus
    The Law Office of Mark J. Markus | Mark Markus
    First of all, nobody can be forced to file a Chapter 13 case. That would be involuntary servitude and that was made unconstitutional by the 13th Amendment. Your friend's bankruptcy will not show on your credit record, but if you are liable for the debt on the card before she files bankruptcy, then you will be liable after. It doesn't change your obligations in any way.
    Answer Applies to: California
    Replied: 6/15/2011
    Daniel Hoarfrost, Attorney at Law
    Daniel Hoarfrost, Attorney at Law | Daniel Hoarfrost
    You won't be forced to file for bankruptcy, but you will still owe on the card and can't look to your partner for assistance.
    Answer Applies to: Oregon
    Replied: 6/15/2011
    Saedi Law Group
    Saedi Law Group | Lorena Saedi
    You will not be exempt from the if she is not paying the card back in full. As a co-debtor you should receive a notice of the bankruptcy filing and the plan to review. If she is not paying all debts back in full you will need to maintain those payments with the creditor.
    Answer Applies to: Georgia
    Replied: 6/15/2011
    Law Offices of Alexzander C. J. Adams, P.C.
    Law Offices of Alexzander C. J. Adams, P.C. | Alexzander Adams
    You will be granted a co-debtor stay from collection during the bankruptcy. At the conclusion of the bankruptcy, you will be liable for the debt that remains on this account. Depending on the amount, you may have to examine your own options in regards to bankruptcy if you are not able to pay the debt. To answer your question directly, however, you will not be a party to the bankruptcy.
    Answer Applies to: Oregon
    Replied: 6/15/2011
    Indianapolis Bankruptcy Law Office of Eric C. Lewis
    Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
    A co-signer's bankruptcy has nothing to do with your credit but if the co-signer is not paying the debt in full through the Chapter 13, it will become solely your responsibility.
    Answer Applies to: Indiana
    Replied: 6/15/2011
    Ashman Law Office
    Ashman Law Office | Glen Edward Ashman
    There is no such thing as "exempt from her case." The Chapter 13 affects you in many ways. First of all the account will be closed. Second, during her plan, you probably will be protected by her stay. Third, when she emerges from her plan, whatever she still owes on the card will be wiped out as to her, and you may be pursued at that time. Have a lawyer go over her paperwork with you.
    Answer Applies to: Georgia
    Replied: 6/15/2011
    Financial Relief Law Center
    Financial Relief Law Center | Mark Alonso
    You do not need to file BK just because a co-signer to a card is.
    Answer Applies to: California
    Replied: 6/15/2011
    The Schreiber Law Firm
    The Schreiber Law Firm | Jeffrey D. Schreiber
    In order for you not to be affected you would have to pay whatever amount is not paid by the other party in their Chapter 13.
    Answer Applies to: California
    Replied: 6/15/2011
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