In the state of Maryland, how do I save my assets from credit card company that are suing my unemployed spouse?
In Maryland my husband is a very small business man, or should I say he was since the business has since closed. He always paid more than the minimum balance and on time. A one time mistake on another card prompted an interest rate hike from around 12% to almost 30%. The closure of the business didn't help matters. Long story short he contacted the CC coy and they reduced the interest rate. He was paying a fixed amount for few months till the business closed. He hasn't made any payments ever since. Now Discover is suing him, they have made two attempts to serve him summons. He doesn't live here anymore we are physically separated. What do I do. I'm scared I might loose my house to the CC coy. His name is on the deed but not on the loan. Some people said just go and remove his name from the deed, He is willing to do anything to make sure that I don't get to suffer for his mistakes. will this work? Somebody help me please!!! Should I tell them where to find him and serve him the summons? Should he contact them so they can serve him? I work too hard for my house, even though it is under water I don't want to loose it!
- SPIFIMAN1Lv 71 decade agoFavorite Answer
Maryland is not a community property State so unless your name is on the credit card account as a joint user your fine.
They can however attach bank accounts, garnish wages (if your State allows it) and file liens on any real property your husband may own so if you have any joint banking accounts close them and open new ones in your name only and yes by all means remove your husbands name from the deed to your home.
Good luck.Source(s): Finance Manager for over 9-years / 2009 edition Consumer Action Handbook.
- Greg PLv 51 decade ago
Im not sure I understand you completly, but it sounds like you are paying the loan on the house, but your husband's name is on the deed. I would suggest getting the property deed'ed in your name if your the one living there and making the payments. It is possible if the property is in his name, and the credit card is in his name, they could take the house as payment for the credit card, even if the loan is in your name.
- Bedford SLv 71 decade ago
You shouldn't lose your house unless it is paid for. Years ago when I managed a finance company in Annapolis, I got judgment against a customer who hadn't paid in over a year. His home however was paid for, so companies attorney had the authorities put for sale sign in his front yard. Needless to say within 24 hours he came in paid account and interest completely off. He should try to work something out with discover.Source(s): former finance company manager