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Hi,

I hope someone can please help.

I am 58 yrs old permanently disabled (Work-comp injury) 10 years.

I was divorced in 2004 (Colorado) my ex-husband had an open check book for the divorce. He took several credit cards out in my name and I was informed by legal that I must assume responsibility of the outstanding bills. I did.

Now I am being sued by three collections agency. (Wyoming).

I have since settled with work comp and have purchased a house.

I want to protect my house and want to quit claim my house to a relative. And they will then quit claim it back to me and I not record it.

Is this the right way to go about protecting my only asset. I have no way of making a living due to this disability.

Please can some one help me.

Calliejo

jheard · Posted: Sat Nov 29, 2008 8:28 am Post subject:

If you did not sign the credit card contracts, you are not liable for the debts.

I would not do the quitclaim transfer. If you want to protect your asset, put it into a trust or a corporation.

smithsussane · Posted: Sat Nov 29, 2008 8:32 pm Post subject:

Hi Calliejo!

Welcome to forums!

Signing a quitclaim deed now may be taken as a fraudulent transfer. I would suggest you not to go for it. Rather I think you should follow jheard's opinion of putting the property in a trust. I think that will save your property. As far as credit card debts are concerned, I agree with Jheard that if you have not signed for them, you will not be made responsible for the debts.

Feel free to ask if you have further queries.

Sussane

carlpruitt · Posted: Sun Nov 30, 2008 1:19 am Post subject:

It is a pity that you received incorrect information at the time. If you did not give your ex-husband the right to open credit accounts in your name, you were never responsible for paying them.

If I were you, I would answer the lawsuits and not just allow the collection agencies to get a default judgment. Very frequently, they can't produce the evidence that you signed for the credit cards. I would check with an attorney if I were you, but believe you have the right to demand that they produce evidence that you opened the accounts.

If that didn't work, it is still possible to declare bankruptcy and keep your home. You would have to talk with an attorney about that as well.

Quitclaiming your home will most likely not help you at all and will just leave you open to something happening on your relative's side that endangers your home just as much.

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