These days a bankruptcy will not cover student loans and I’m wondering how aggressive they can get in garnishing all of my future wages or SSI payments until the loans are paid off.
Posts Tagged ‘default’
If credit cards are in my name only will my spouse’s credit score be effected if I default on a payment? ?
23
Mar
I have several credit cards in my name only in which I have fallen behind in payments. I plan on paying each one off one by one, lowest balance first, therefore I can at least see progress! I have decided against a credit counseling agency and I am planning on negotiating with the creditors myself when I have the funds to pay the balances off. I do know how this is going to effect my credit score. Unfortunately,, this is the route I needed to take in order to learn a huge life lesson. We had excellent credit up until now. I stoped working back in May and this is what the consequences of that decision are. My concern is that this will effect my spouse’s credit score as well. Our home mortgage is in both of our names. In the future we may sell our home,(that would be when I would pay-off all of my debt) however the next mortgage would be in his name only. I would appreciate any advice-thanks…..