CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Are You Hiding Credit Card Debt from Your Spouse?

Credit card debt is common in American marriages, and also fairly common is one spouse hiding credit card debt from the other. When one person’s spending habits are drastically different than that of the other, or spending is related to behavior a person wants to hide from his or her spouse, such as an affair or addiction, it can be tempting to keep debt a secret. In the long-run this is usually a mistake and can put an emotional strain on a marriage, as well as the financial one it created. In some cases, the financial burden in a marriage is enough to drive a couple to divorce.

What Should You Know if Credit Card Debt Has Landed You in Divorce Court?

In an equitable division state, debt incurred during the marriage is the responsibility of both spouses. This means that even if your spouse had no idea how much debt you accumulated, he or she can be held equally responsible for it by the divorce court. There are instances in which a credit card in only your name will be your responsibility alone, but you cannot count on this being the case. The bottom line is lenders will go after whomever they can to get the money they are owed.

The court might also consider the reason why debt was incurred and use that reason to determine whether or not it will hold your spouse financially responsible. For instance, if debt is incurred as the result of an extramarital affair, it is less likely the non-offending spouse will be held responsible than if the debt was the result of several shared vacations.

What Can You Expect Your Spouse to Do If He or She Suspects You are Hiding Debt?

Your spouse and his or her attorney will likely dig into financial information to determine what debt is being hidden. You can expect your credit report to be pulled and bank statements to be reviewed. Tax returns will also be reviewed, as well as information regarding retirement and savings accounts.

You can also expect your spouse to close or request that you close any joint accounts shared by the two of you. If you are still trying to hide credit card accounts, now is the time to come clean. His or her attorney will find them and you are better off taking care of the issue on your own. If you are unable to pay off a joint debt outright consider transferring it to a credit card in only your name.

Keep in mind that even if you or your spouse is ordered by the court to pay a debt and seems solely responsible for that debt, it does not mean the lender cannot pursue legal action against either or both of you. Keep careful track of your paperwork and make sure you are able to prove your spouse is also responsible for a debt if the court deemed it so.

Many people contact an attorney because they are the victim of a spouse or soon-to-be-former spouse hiding debt, but it can be just as stressful being the spouse hiding the debt. Living a lie has an effect on every aspect of your life and it can destroy the financial future of you and your spouse.

If you are hiding debt from your spouse and you believe the situation is out of control, bankruptcy could be an option. It can help you whether your marriage is intact, or if divorce proceedings are in process or your marriage is over.

For more information, contact the Law Offices of Robert M. Geller at 813.254.5696 to discuss your situation.

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

How Does Filing for Bankruptcy Affect a Vehicle Loan?

If you're considering bankruptcy, you may be wondering if you'll be able to keep your car. The answer depends on...
Read More

8 Ways to Deal with Student Loan Debt

If you're one of the millions of Americans saddled with student loan debt, you're probably looking for ways to minimize...
Read More

Tips for Handling Credit Card Debt

If you're struggling with credit card debt, you're not alone. The average American household owes nearly $6000 in credit card...
Read More

Don’t Fall for These Common Bankruptcy Myths

There are a lot of misconceptions out there about bankruptcy. Working with a debt defense attorney is one of the...
Read More

Can Filing for Bankruptcy Affect My Career?

It’s common for people considering bankruptcy to wonder how filing affects their job. The answer to this question depends on...
Read More

Can I Fix My Credit After Bankruptcy?

Wondering how to improve credit after bankruptcy? Here's what you need to know. Bankruptcy can be a fresh start for...
Read More

What Happens If I Can’t Afford Chapter 13 Bankruptcy?

Are you wondering what happens if I can’t afford my chapter 13 payments? Here's what you need to know when...
Read More

Help I Regret Filing for Chapter 7 Bankruptcy

Bankruptcy isn't the right choice for everyone. Depending on your unique financial situation, you may be able to find other...
Read More

How a Bankruptcy Attorney Helps You Avoid Problems When Filing

Do you know what mistakes to avoid when filing for bankruptcy? If you're considering filing for bankruptcy, it's important to...
Read More

These 7 Common Bankruptcy Mistakes Can Cost You Thousands

Bankruptcy is a legal process that allows individuals or businesses to eliminate or repay some or all of their debts....
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions