Legal Question in Bankruptcy in California

Mother co-signer on several bank cards

23 year old daughter contemplating filing for bankruptcy. Approx. 12k in debt. Her mother is co-signer on several credit cards. Mothers credit is inpeccable. How will daughter's bk affect mother's credit and assets? Also, daughter getting married in Oct. How will bk affect her spouse? Debt is primarily bank cards.


Asked on 12/28/98, 9:59 pm

1 Answer from Attorneys
Mark Markus Law Office of Mark J. Markus

Re: Mother co-signer on several bank cards

The daughter's BK will not affect the mother's credit. Of course, if mother fails to pay the credit cards, then her credit would be affected. As for the spouse, as long as the bankruptcy is filed before the marriage, it will not affect the spouse except to the extent they seek to utilize joint credit. Even if she files after the marriage it shouldn't affect the spouse's credit, although any new debts incurred after the marriage by both might cause the spouse's credit to be affected.

Best Regards,

Mark

http://www.bklaw.com/bklaw

(818)509-1173

Mark Markus

Law Office of Mark J. Markus

11684 Ventura Blvd., Ste. 403


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Answered on 1/25/99, 2:34 pm


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