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    BillyJeff's Avatar
    BillyJeff Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Aug 10, 2006, 04:23 PM
    Does wife's credit affect mine?
    My wife has $5880 in credit card debt that has been turned over to collections. Do I have to worry about the debt affecting my credit? Will a judgement affect me? How likely is it that the company will sue? Can the company go after our joint checking account? How about a joint CD? I live in Michigan, and it isn't a community property state, does this help me? Please help me any thoughts will be greatly appreciated.
    RickJ's Avatar
    RickJ Posts: 7,762, Reputation: 864
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    #2

    Aug 11, 2006, 02:48 AM
    I don't know MI state laws, but these answers are general rules of thumb:

    Quote Originally Posted by BillyJeff
    My wife has $5880 in credit card debt that has been turned over to collections. Do I have to worry about the debt affecting my credit?
    If you were not on the account with her, then it should not affect your credit.

    Quote Originally Posted by BillyJeff
    How likely is it that the company will sue?
    You can never guess... but since they can, you should assume that they will.

    Quote Originally Posted by BillyJeff
    Can the company go after our joint checking account?
    Very probably.

    [QUOTE=BillyJeff] How about a joint CD? I live in Michigan, and it isn't a community property state, does this help me? /QUOTE]

    I don't know about these last two.

    There are other good credit folk on this site, though, let's see what they have to say.

    Good luck with it, Billy.
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