A credit card account holder can have other card holders on his or her account. But what happens if one of the users decides to file for a Chapter 13 bankruptcy? Does this affect the other users, and their credit?

The primary account holder is responsible for any debt incurred on the account, as reported by Fox Business in a March 24, 2014 news article. Therefore, if one adds his or her significant other, then he or she would be responsible for the debt. However, the debt incurred on the account will be present on the credit report of everyone listed on the credit card account.

If one is thinking about filing for bankruptcy, then he or she can try other options before filing the petition. For instance, one can look into credit counseling to see if his or her creditors would agree to lower his or her monthly payments, interest rates and/or late fees.

Also, one might choose to have his or her own credit card accounts and pay his or her own bills, which would ensure that they are in control of their accounts.

Another option may be a Chapter 7 bankruptcy in which there would not be any payments made. One should consult with an experienced attorney before filing or not filing for bankruptcy. Jayson Lutzky’s 31+ years of experience practicing law in New York combined with his detailed approach makes him a strong choice to handle your personal bankruptcy. Call 718-514-6619 to set up a free, confidential in-person consultation or visit www.MyNewYorkCityLawyer.com to learn more.