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My husband is the only "Bread Winner" in our family. I have a debt with Bank of America that is a little more than a year old and has been recently charged off and sent to a collection agency. My question is 'If I end up getting sued, and a judgement is entered against me, how will this legally/financially affect my husband?' He was never a co-signer on this account. FYI the checking account is in his name alone, but the house and car are titled to both of us. Also, if it makes a difference we live in California and have been married for 17 years.
They can not legally hold your husband responsible for your debt. If he is not on the acount and never signed anything then it will be you who is solely responsible. I believe they can not do anything with your home because of debt. Bank account would be able to be garnished but only if your name was on them and they would have to sue you in court to do this. I am not sure if it were both your names on an account if they would legally be able to attach but you say they are just in your husbands so you should be fine there. Others will be by and put in their opinions so hang tight more help is on the way.
This is rainexoxo. Sorry, I'm having some difficulty loggin in. I just wanted to say "Thanks, Fireyone."