Joint Account
I am currently living at my parents house. I have a joint account with my mother. Should I have my name removed from the accoun? I don’t want her finances affected by mine. It is really her chequing account, I was just put on to have the convenience of performing her baking duties. I also have a joint visa card with her. If it is at a zero balance if I claim bankruptcy can I keep the card? I am also looking to find out if I have furniture on a due not pay plan, how is that affected? Will I loose my furniture?
Anytime you are listed on another persons account both you and the other party are both at risk. You would probably be better off to remove yourself from this account.
As for the credit card, if you file for bankruptcy you are not entitled to keep any credit cards, regardless of the balance. Additionally, the furniture, to keep this property you will have to provide the full purchase price of the furnishings to your trustee in addition to the cost to file a bankruptcy, otherwise you will loose that furniture.
For more details on this you should contact a licensed trustee in your area and have him review the specifics behind these issues.