Will my wife inherit my credit card debt?

Family members, including spouses, are generally not responsible for paying off the debts of their deceased relatives. That includes credit card debts, student loans, car loans, mortgages and business loans. Instead, any outstanding debts would be paid out from the deceased person’s estate.

Can I transfer credit card debt in wifes name to my card?

In some cases, credit card issuers will require you to add your partner as an additional cardholder before their debt can be transferred to the new credit card. Otherwise, you may simply be able to transfer the balance from any person’s account to your own.

Can my wife’s transfer her credit card balance to mine?

Yes, but only some providers let you transfer another person’s balance to a credit card in your name. Only you (the person taking on the balance) can request the transfer. The provider will not allow the other person to make the transfer. Taking on someone else’s credit card debt is a risk.

Who is responsible for my wife’s credit card debt?

In those states, everything that is acquired during the marriage is usually considered equally owned by the spouses. It is the “property” of their once-happy “community.” For instance, if your good-for-nothing husband secretly spent $39,000 playing on-line poker and put it on a Visa card, you are stuck with half the bill.

Can a spouse be off the hook for credit card debt?

If you can prove that your spouse’s spending had absolutely no benefit to you or your marital community, you might be off the hook. Some states even dub certain types of debt, such as debt accrued from drugs or gambling, to be “marital waste” that doesn’t count against the more responsible spouse.

Who is liable for a joint credit card debt?

If the debt is for a joint credit card in both your names, then you and your spouse are equally liable for it. In addition, if you are a cosigner on your spouse’s credit card (even if it is not a joint account), you’re still on the hook.

What happens if my husband runs up my credit card?

That fact remains true even if it was your spouse, not you, who did all of the irresponsible spending. If your husband runs up your jointly held credit card playing fantasy football, or your wife runs off on a spontaneous solo vacation with the credit card you co-signed on, you are both still liable for the debt.

Can a spouse be responsible for their spouses credit card debt?

The main point, though, is that any property or debt accumulated during your marriage becomes the responsibility of both spouses automatically, even if one spouse accumulated that debt in secret for his or her own selfish reasons. There are exceptions to this rule.

How does credit card debt affect a divorce?

If you get divorced and your spouse has lots of credit card debt. As we’ve already mentioned, serious debt is sure to affect your marriage in some way. Unfortunately, if you decide to get divorced, your spouse’s debt problems don’t suddenly stop affecting you.

Who is responsible for debts incurred during a marriage?

If you live in a community property state: Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin you may be responsible for debts incurred by your spouse during your marriage even if you did not cosign.