Transferring my Spouse's Debt into my name

[markcanty]

My spouse and I have about $20,000 of unsecured debt. most of it is in both of our names. Is there any way that we could have it all transferred to my name and then I just go through bk?

[HHM]

Not really, unless you can wait "at least" 6 months from the time you transfer the debt and you file bankruptcy.

Also, as a general matter, a married couple is viewed as a single legal entity under the law, so when your married, there is no "my name, spouse name" vis a vis the outside world. When you apply for a credit card, even if you don't even mention your spouse, your spouse is still liable, and vice versa. When you buy a car, it belongs to "both" of you regardless of whose name is actually on the title.

The problem you will face is the transfer...I assume your plan is probably to pay off the joint accounts with a balance transfers to some other credit card that is solely in your name. In all likelyhood, the bankruptcy court will veiw those transfers as fraudulent transfers and the creditor will object to discharge of their debt. However, if you can wait six months or more from the time you made the transfer before filing bankruptcy, you might be able to get the debt discharged.

However, with the new BK law coming into effect in 3 months, you really don't have the time.