Sued, bad-debt, and filing bankruptcy

[Ladynred]

f I don't generate any income right now (housewife) and the credit card debt incurred prior to marriage, how come I read conflicting opinions regarding the possibility of my husband getting a lawsuit also ?

Because you are in a community property state ! It is POSSIBLE they could list him on any lawsuit, whether or not its probable is a different question and if his name isn't on the accounts its unlikely.

Since this debt was only under my name, wouldn't it be my responsibility only ?

Yes, provided its ALL premarital debt AND the account was NOT used AFTER you got married. Community property law then gets in the way - any debt incurred during the marriage is the the liability of BOTH spouses, regardless of who's name is on the account.

If husband could get sued, that means they could get anybody else that is directly related to me sued also, for example parents ?

Absolutely not. The ONLY way any other people could get involved is if their names were in the account as a joint account holder with you.

Finally, what is the estimated cost to hire a BK attorney ?

No one here can tell you that. The cost varies widely by state and area and give the new law, the costs have gone up. You're just going to have to do some legwork and go for a few consultations.

 

[hbitez]

To Ladynred,

Are you an attorney yourself ?

Is the meaning of Community Property Law means it starts kick in once you get married ? For example, any financial loss or gain during marriage is governed by this law ?


And, how true/valid is the statement below ?


"Yes, provided its ALL premarital debt AND the account was NOT used AFTER you got married. Community property law then gets in the way - any debt incurred during the marriage is the the liability of BOTH spouses, regardless of who's name is on the account."


Thanks for any feedback...!!!

 

[Ladynred]

Is the meaning of Community Property Law means it starts kick in once you get married ? For example, any financial loss or gain during marriage is governed by this law ?

That IS the bulk of COMMUNITY PROPERTY, yes.
Any ASSET or LIABILITY acquired during the marriage falls under the community property law. There are a few instances where property - or debts - can be kept as separate property, but many things must be done to keep it separate.

And, how true/valid is the statement below ?

Do you really think I'd have said it if it was NOT true ??? I have no reason to lie to people here. Yes, its TRUE and its VALID.

Am I a lawyer ?? Read my signature line.....

 

[JETX]

community property
n. property and profits received by a husband and wife during the marriage, with the exception of inheritances, specific gifts to one of the spouses, and property and profits clearly traceable to property owned before marriage, all of which is separate property. Community property is a concept which began in Spain to protect rich women from losing everything to profligate husbands, and is only officially recognized in some states which were once under or influenced by Spanish or Mexican control, including California, Arizona, New Mexico, Texas, Nevada, Idaho, Washington and Louisiana. Community property recognizes the equal contribution of both parties to the marriage even though one or the other may earn more income through employment. By agreement or action the married couple can turn (transmute) separate property into community property, including by commingling community and separate funds in one account. Community property is recognized based on fact or agreement of the parties, rather than holding of title. The state courts have wavered on what constitutes proof of community property, including the issue of whether joint tenancy is evidence of community property or not. Upon divorce community property is divided equally without regard to fault. Upon the death of one spouse all the community property goes to the other except in Texas surviving children get one half and in obvious sexual discrimination Nevada and New Mexico allow the husband to will a half to someone other than his wife.

Oh, and by the way.... Ladynred is CORRECT... as expected!!