What happens to my credit as a co-signer?
June 20th, 2008 by Questions
My Common-Law Spouse is claiming bankruptcy. We are separated. I have co-signed on a few of his loans including a line of credit, a leased vehicle, and we have a joint credit card together. Both of our names are also on the mortgage of our home. At this point I am unable to remove his name from the mortgage and apply solely on my own. He is also unable to remove my name from the line of credit and the lease of the vehicle. What is going to happen to me, my credit, the house once he claims bankruptcy. If I am the co-signer, does that mean I become responsible for paying back these debts?
Posted from: British Columbia
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