Can creditors go after spouse?
Even if your spouse opens up a line of credit in their name only, you could still be liable for that debt.
Creditors can go after a couple’s joint assets to pay an individual’s debt.
In that case, the creditor can only go after the person responsible for the debt..
How do I protect myself from my husband’s debt?
Keep Things Separate Keep separate bank accounts, take out car and other loans in one name only and title property to one person or the other. Doing so limits your vulnerability to your spouse’s creditors, who can only take items that belong solely to her or her share in jointly owned property.
Can a spouse’s wages be garnished for the other’s debt?
California is a community property state. This means that the law presumes any property acquired or wages earned by you and your spouse during your marriage belong to both of you. … This is true, even if the account garnished is in your spouse’s name only.
Is debt divided equally in a divorce?
As part of the divorce judgment, the court will divide the couple’s debts and assets. … Generally, the court tries to divide assets and debts equally; however, they can also be used to balance one another. For example, a spouse who receives more property might also be assigned more debt.
What debts are forgiven upon death?
No, when someone dies owing a debt, the debt does not go away. Generally, the deceased person’s estate is responsible for paying any unpaid debts. The estate’s finances are handled by the personal representative, executor, or administrator.