Question: Can your creditors put a lien on your home equity , assuming that's the only asset you and your wife have?

(Posted by: BCool Express on 2010-03-09 10:47:46)

Credit card debts belong to only one spouse.

Posted by: efflandt on 2010-03-09, 10:58:30

If a creditor gets a court judgment, they can put liens on assets, possibly garnish wages (depending upon the state) or bank accounts, etc. You have to be especially careful about joint bank accounts. If you are in a community property state, anything acquired or paid for (or not) after marriage is owned equally (including debt). To avoid that would require totally separate finances without any co-mingled funds.