Legal Question in Bankruptcy in New Jersey

Joint credit card debt and bankruptcy

I have a joint credit card with my brother. It is a total of about $15,000. If he files bankruptcy will all of the debt become mine?? ALL of the debt is his, and he will agree to it. He has not made a payment in almost a year and I had to take a cash advance on the card to make the payments. If there is no way for me to get out of this mess, is there some kind of form/letter I could have him sign to protect myself in some way?? Thanks


Asked on 3/11/04, 9:35 pm

1 Answer from Attorneys
Eric Kochel The Law Office of Eric David Kochel, Esq., P.C.

Re: Joint credit card debt and bankruptcy

Unfortunately, a joint account is just that - a "joint account". That means you are both jointly liable for each and every debt. If your brother files for bankruptcy his debts are discharged and you remain liable for all the debt on the joint account. Only if you both file bankruptcy is the debt discharged for both of you. However, you should make sure that it is truly a joint account. Sometimes one person has a credit card and simply adds another persons name. It is not a true joint account. But if it is as you suggest - a true joint account I'm afraid you have no recourse other than to pay it off.

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Answered on 3/12/04, 12:50 am


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