Joint account

What is the name of your state? Tennessee
i stupidly allowed my now ex-roommate to open a credit card account in both our names. we parted ways a year ago. i did draw up a letter that both of us signed saying that, since she had charged up the card, she would be responsible for the monthly payments as of may of last year. i was to be responsible for $1000 of the $5000 that was charged as we did use the card for some joint purchases. i have since paid all but $130 of the $1000 that I owe. but she, of course, has not been paying the monthly payments. the company calls me when she does this and i have to get in touch with her. they say that they are going to begin to confirm our employment and assets. i am a college student with no job but do have a new car in my name (thanks to mom). she is employed, or so she says. since i have those letters the lady i talked to today said i can take her to court, can i? and what about my assets?

[JETX]

"since i have those letters the lady i talked to today said i can take her to court, can i?"
*** Of course you can "take her to court". Anyone can sue anyone over anything. The problem you are going to have is.... you haven't been damaged by her actions YET. Though you think you have 'separated' the debt with your signed letter, that means absolutely nothing to the credit card company.

Simply, you have a JOINT liability that one or both of you must pay. The credit card company doesn't care who they get their money from.... as long as they get paid. So, when this debt becomes due, they are going to come after BOTH of you. When that happens, you will have to decide whether to pay for the WHOLE thing to protect YOUR credit, or to refuse to pay.... and take the hit on your credit profile. If you decide to step up and make the payments, THEN you will be damaged (in making her payments for her). After you have paid the debt in full (and before her responsibility to you ceases due to Statute of Limitations), THEN you sue her to try to recover your damages....
But you can't sue her in anticipation of your damages.

When you agree to share credit with someone.... you are equally liable for the whole thing!!




and what about my assets?