Am I responsible for debt incurred by my husband if it is in his name and was not in the interest of the Family?

Philadelphia, PA Viewed 25 times. Posted 25 days ago in Debt Collection
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My huband has incurred credit card debt in excess of $190,000 for cash advances to fund his Day Trading. He has also liquidated all his IRA investments. I was recently informed of this after repeated questions which would be answereed with "everything is fine". I work full time with 2 children and am struggling to pay the montly mortgage and household expenses. Needless to say this has taken a toll on our marriage. I am considering divorce but am concerned if I am responsible in any way for his debt. - Is this your question? Add additional information
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Answers (1)

Clair Michelle Stewart

Clair Michelle Stewart Avvo Pro

Contributor Level 3
This attorney is licensed in Pennsylvania and 1 other state. Posted 14 days ago. Flag as objectionable
If all of the debt was in your husband's name alone, then you will not be personally liable for any of that debt. However, if any of the credit cards were in joint names (both you and your husband) then you would be personally liable and responsible for repayment of that debt, even though it was he alone who ran up the credit cards. Again, you would be responsible for nothing if all debt was in his name alone.
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