Leaving Your Co-Debtor As the Sole Debtor

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Leaving your co-debtor as the sole credit card holder is the last thing you want to do. In the event that you do it, the consequences will be dire. For instance, if you leave your co-debtor with an outstanding balance, the bank will be on the hunt. Thankfully, there are ways to minimize the damage. More info : https://www.scura.com/blog/leaving-your-co-debtor-as-the-sole-debtor

How to Recover a Debt from an Individual

First and foremost, you’ll want to consult a Dallas bankruptcy lawyer. A good legal professional can explain the ins and outs of your situation in plain English. They can also suggest a course of action if you’re considering filing for bankruptcy. In this case, the best route to take is to file jointly with your spouse. That way, you’ll both be able to wipe the floor with your debts. Besides, filing jointly is always the smarter option.

The other good news is that you’ll have a couple of free weeks to go through all of your credit card statements. And if you’re a heavy spender, you can likely wrangle some of the interest rates from your bank. But be careful, as the credit card company may have a policy of freezing your account at the first sign of trouble. That means it’s a good idea to get your finances in order before you make a last-minute trip to the bank.

And of course, there are all sorts of ways to keep your credit card afloat. Whether you’re filing for chapter 13 bankruptcy, or are a homeowner who is facing a foreclosure, there are a number of steps you can take to keep your credit rating intact.

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