My lovely wife apparently racked up over $10,000 in credit card debt unbeknownst to me.
Before I chat with a bankruptcy lawyer I was curious how this will affect me. Meaning will her creditors find a way to come at me for my wife's debts?
1) We are cosigned on the house and two car loans. I am the primary borrower.
2) She thinks claiming the bankruptcy where she will have to repay is her only option. The lawyer she consulted with stated that my income is too high to claim total bankruptcy. He has also stated that I will be fine according to her. My trust in this statement is nonexistent.
3) I am not cosigned on any of her credit card debt.
Thoughts? Supposedly she is so far behind that my wife does not think I can dig her out of the tremendous hole she has dug herself into. How will this come back to bite me or will it?