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Expert: - 1/10/2010


Question
I live in Texas and have a $9,000 debt with Capitol One. It is my debt but I am unable to pay even the minimum amount. (I am currently unemployed)  I was doing fine making all my payments on time until Capitol One arbitrarily raised my rate from 8.9% to 29.9% June 2009.  In short, if I go to collections on this, can my husband, who is not on the CC account have his assets included in any judgement?

Answer
Mary,

Texas is a community property estate. This means that what debts you take on during the marriage can affect the other person. Assets (that are not protected by exemption or homestead) that you both own could be gone after. If you are in a position to settle the debt with Capital One, then now is a great time to do so. We have a debt settlement sheet to teach you how: http://www.henleycreditlaw.com/269/

Chris Ebert
http://www.henleycreditlaw.com

Collections Law

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Chris Ebert

Expertise

I can answer questions for Texas and California residents concerning issues that involve creditor and debtor rights. Specifically, I can answer questions concerning: FDCPA, FACTA, FCRA, and Texas / California state collections violations.

Experience

For the last 6 years I have worked as a Sr. Paralegal in a law firm (http://www.henleycreditlaw.com) that defends debtors against their creditors. I have reviewed thousands of credit reports and under the supervision of our attorney helped hundreds of client resolve their credit issues.

Organizations
Henley & Henley, PC

Education/Credentials
BBA University of Texas at Austin

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