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Originally Posted by Well Spent
I am very concerned about the $47,000 cc debt. This agreement you have with your estranged husband - is it a legal contract? is it in writing that he is going to pay it instead of giving you child support? or was it a verbal agreement between the 2 of you? since you are the primary user and he's an authorized user, he could easily screw you over and leave you responsible for it. You should really deal with this now. I'm very wary of this aspect of your financial life. As far as I can see, it is the most dangerous part of your story. Think about it, if he mkes a low income and his work is unstable, why would he agree to pay 47,000 in cc debt instead of chld support, which would be much lower (in my opinion) because his income is low?
I think he's trying to avoid paying child support for your son and the cc debt. I smell a rat here.
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I have the same concern. If you and your husband have agreed to this arrangement, the debt and legal responsibility should be formally transferred to his name. Period. $47K is a huge number to have looming around. It's not enough just to "get it in writing that he has agreed", you need to have it formally transferred to his name and responsibility.
Regarding paying the credit cards, under the new law, if you miss any payment on any card, the creditor can alert everyone you have credit with, and they can all legally raise your rates, reduce your limit, and even close your account if your risk has changed. That's ONE payment to ANY creditor.
I'd take the extra money and hire a good lawyer.
After I got out from the $47K threat, I'd worry about the rest. As long as you have that financial obligation under YOUR name, you are going to have problems.