Credit Card debt Advice needed please!

eddsy_2

HI

I am not sure if this is the right thread, so I apologise if it isnt.

My wife and I are going to divorce and she has aproximatley £25k on 4 credit cards. She has been advised that we are jointly liable for this debt. The four card agreements are in her name only and I have never been an additional card holder. Is this correct? I am responsible for this debt as well.

Also if she was to go bankrupt can the creditors chase me for the credit card debt and would it affect my credit rating. We have been seperated just short of 2 years.

Any assistance in this matter would be appreciated.

Regards

Eddsy

NickX

eddsy wrote: »

My wife and I are going to divorce and she has aproximatley £25k on 4 credit cards. She has been advised that we are jointly liable for this debt. The four card agreements are in her name only and I have never been an additional card holder. Is this correct? I am responsible for this debt as well.

Also if she was to go bankrupt can the creditors chase me for the credit card debt and would it affect my credit rating. We have been seperated just short of 2 years.

From a legal perspective your wife has been advised incorrectly. Only the cardholder is responsible for making repayments and her creditors cannot chase you or damage your credit rating. You should not accept any liability for her debts and they cannot come after you as it is not you who has entered into a contract with them.

My only proviso with this would be if the debts were somehow split as part of a divorce settlement - if you think this may be a possibility, then I would check with your solicitor.

Good Luck.