Wife's credit card debt
Question Details: My wife has credit cards in her name only and has acquired a sizeable bill. Is our house which is jointly owned in danger. How about assets that are owned by me only?
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To the extent that you have any joint assets they may be at risk. Your wife's creditors can go to court and obtain judgments against for the amount of her outstanding credit card debt. The creditors can then seize or lien any property in her name, whether or not it is solely or jointly owned. There are certain state exemptions as to the type of property and the amount that can be seized/garnished but, generally, it can be done.
Note: As to your sole property, it is not at risk.
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