My daughter and husband are jointly on a credit card. Most purchases are his, and he has since filed bankruptcy due to a stroke. Does this obligate our daughter, financially, to his charges? Suit has been filed against her for repayment. Is this possible? Can she dispute the charges?
Your daughter can be held liable for the charges on the credit card account if she is a joint owner of the account along with your husband. As a joint account holder, your daughter signed the cardholder agreement as a financially responsible party. With a joint credit card account, it does not matter who makes purchases on the account, both parties are financially responsible for paying the balance.
Ever since the introduction of variable life insurance in the 1950s, the debate over life insurance as an investment has raged on, and to this day, the issue remains largely unsettled. Life insurance advocates can make a case 
for its unique properties – tax deferred growth, tax free death benefit, low interest loan provisions, and varied investment options – but then the critics can argue that it can be expensive and that there are better ways to invest your money. The reality is that, while both positions have merit, they also don’t apply equally to all financial situations.
Debt Consolidation options for borrowers with impaired credit history can appear to be limited. Certainly any application made to a bank for a personal loan to consolidate debts would be declined. Unsecured personal loans generally require borrowers to have a clean credit history as do credit card applications.
Borrowers with a history of bad credit but with equity in property may wish to consolidate unsecured debts into their mortgage. In doing so you may find that your monthly repayments are reduced significantly. Naturally to qualify for a mortgage refinance at an increased amount you must be able to demonstrate loan affordability.
If you are not a home owner but own a motor vehicle outright or perhaps a boat or a motorbike, you could use the equity in these assets to apply for a secured personal loan for debt consolidation.
I live in Louisiana, which is a community property state. Upon divorce, I learned that my spouse had opened up numerous credit cards in his name only without my knowledge, and had the payment coupon going to his mother’s house so I wouldn’t be aware he had the cards. I did not know these cards existed, and I definitely didn’t have access to them. I classify this as flat-out deception. He has borrowed over $70,000 on those cards and has nothing to show for it. I assure you those funds were not used for the benefit of both of us. We didn’t go on any lavish vacations, the house wasn’t remodeled, he didn’t pay off any bills. I don’t know what he used those funds for. Further, we had joint credit cards with $0 balances and could borrow well over $200,000 if we chose.
If you’re thinking that you can put off those pesky, overdue medical bills just one more month in order to catch up on your other payments, think again. Overdue medical bills can very quickly turn into a medical collections account which, like any other collections account, can sink your credit score.
Many borrowers do not realize that irregular payments on their home loans can give them bad credit history.
Sometimes paying your home loan 1 day late because your loan repayment was set up to occur one day before your salary, can result in home loan providers declining your refinance application. Even if your home loan is in order, you are simply making payments a day or two late every month, will make it difficult if you apply for debt consolidation or a car loan with your mortgage provider.
Bad credit history will prevent borrowers from accessing unsecured loans and may create difficulties when going for a mortgage refinance.
“As a result of the GFC, all lenders considerably tightened up their lending criteria with a much greater emphasis on the credit worthiness of applicants.