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Credit card debt charged by one spouse may be responsibility of both, and those with problems may consider debt consolidation
12/12/2009
Marriage can bring with it numerous different types of joy. However, it also has its hardships, which could include credit card debt.
In a recent piece for her website, personal finance expert Liz Pulliam Weston noted that depending where a person lives, they may end up jointly responsible for the credit card debt their spouse racks up. The states where this may be true are Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin.
For states that do not have the "community property" rule, Pulliam Weston noted that the spouse would probably be responsible for their own credit card debt, unless it was used to buy things like food and shelter for a family.
"The rules vary enough by state that you'd be smart to consult an attorney about your potential liability," Pulliam Weston wrote.
Along with consulting with an attorney, some married couples may consider visiting a consumer credit counseling service in case one - or both - of them are having trouble paying off credit card debt. A counseling service can help people through debt consolidation, which may lower a person's interest rates.
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