Complicated–How to handle husband’s forthcoming bankruptcy w/ joint accounts and AU

Tips and Deals Forums Consumer Credit Improve credit Complicated–How to handle husband’s forthcoming bankruptcy w/ joint accounts and AU

This topic contains 0 replies, has 1 voice, and was last updated by  dealpal 7 years, 2 months ago.

  • Author
  • #243382


    This is my first time posting here. *I’ve been impressed with how some members have handled complicated situations, so thought I’d reach out for advice.
    The scoop:
    My husband had a restaurant (+ a few other businesses prior which also weren’t financially viable) that have taken a toll on our/my credit. *I have always had a credit score of over 700 until some of his business actions greatly decreased my score. *
    My credit is on the mend–I have a good credit line, 25 years of credit history and been a homeowner for over 18 years. * For the past 3-5 years,*I have run a successful small business (a piece left over from one of his) as well as work full-time for another company *which involves some travel, so the credit lines are constantly being used and paid off every month. *However, my husband is still an authorized user on my Amex (which*we*use ALL the time for gas and such) and he has a few credit cards in his name for which I am an authorized user. *Those carry no balance and are not being used currently.*
    I have never given any thought to this before I came to this forum, but how should I handle all these joint accounts/authorized user situations if he will possibly be filing for bankruptcy protection regarding his restaurant he shut down almost 2 years ago? *(To remove an AU, does the account holder just call the cc company? *Or are there more hoops to jump through?)
    I need to refinance my first and second mortgage (another casualty of being married to a wanna-be entrepreneur), but I am concerned my credit score might prohibit that–my Experian score is 675 right now. *I’m thinking I need to get the house in my name only and get my name off his accounts, but don’t fully understand if I should get hubby AUs off of my cards? *
    Sorry to be so long. *Thanks for reading.

You must be logged in to reply to this topic.

Register New Account
Reset Password