Wife's credit card debt

[familyguy2]

What is the name of your state? MI

My wife has racked up large credit card debts, which she has no means to pay. Other than our home and 1 vehicle, we have no jointly held property or joint accounts. Can the court attach a lien on the home and vehicle if there is an adverse judgement? If so, can I protect these assets from creditors by removing my wife's name from the titles before these actions take effect? Can my wages be garnished in this case?

[seniorjudge]

If your name is not on any of those accounts, then the creditor cannot go against your assets.

[Debt Guy]

The credit card companies will take a judgment against your wife. I don't think they can take your home away from you but they can attach her interest in the home. This will have the effect of a "cloud on the title"

At some point later, if you sell the home, you will have to deal with this in order to clear the cloud on the title.

After judgment they can garnish her wages. They can also levy any bank account that has her name on it.

It will be cheaper to deal with it now than later.

You could transfer the deed from joint ownership to your name alone. Before doing doing so, you should consult a local attorney experienced in real estate matters to make sure it is done correctly. Such a transfer could potentially be voided by the creditors.

Of couse, your wife will need to consent to the transfer.