Q: Question about husband filing for bankruptcy separate from me.
My husband is probably going to file for bankruptcy in PA. How do the credit cards that are in both of our names work? I know that they can still require payment, but can they stay monthly payments or do they require me to pay one lump sum? He also has a four wheeler that is almost paid off, if we continue paying for it, can they take it?
A: The credit card payments can be made on a monthly basis in accordance with the non-filing spouse's contractual responsibility. The four wheeler most likely is exempt, however, depending on the cost per month, it could be viewed as a luxury expense to the detriment of unsecured creditors. If the payment on the four wheeler is relatively low and other recreational expenses are at a minimum, that would be best for keeping the vehicle. Hope this helps!
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