Legal Question in Bankruptcy in California

shared credit card that will be paid off
I have a shared creddit card with my father, he has now closed the account and will pay the entire amount. I will be filing for Bankruptcy tomorrow and want to know if I still need to list the credit card? The credit card will be paid off at the end of next week.

Asked on 7/25/02, 12:48 pm

3 Answers from Attorneys

Mark Markus Law Office of Mark J. Markus

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Re: shared credit card that will be paid off

If they haven't cashed your dad's check when your case is filed, then you need to list it. Also, you say you have a "shared" account. Does this mean you are both legally responsible for the debt, or just that one of you is a co-signer? If your dad is merely a co-signer, then you must list the payment he makes on question 3 of the Statement of Financial Affairs.

Answered on 7/25/02, 12:51 pm

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Mark Markus Law Office of Mark J. Markus

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Re: clarification

my mistake in the last post. I meant to say if your dad is only an authorized user, rather than a cosigner (meaning he signed the original cardholder agreement or application), then he is not legally obligated and any payments he makes on the card must be listed in question 3, Statement of Financial Affairs. Sorry for the confusion.

Answered on 7/25/02, 12:53 pm

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