Help!!
I have a number of credit cards and my husband bought a new house and we are increasinly finding it hard to make even the minimum payments . If i declare bankruptcy how will effect him if he has spousal cards to those accounts. Or is it better to do a consumer proposal.
Thank you
Crinna
It probably won’t hurt; to find out for sure, ask the bank or mortgage company.
You always have the option of suing, but the question is do you have the funds to cover the court and legal costs. Alternatively you can discuss the situation with your trustee or if you believe you are being treated unfairly by the collection agent first contact the head of the agency, if still not satisfied, contact the provincial ministry responsible (in Ontario this call (416) 326-8555 or 1-800-268-1142).
If your husband was not listed as a co-borrower but simply had a spousal card hw will probably liable for any purchases that were made using his card. This is regardless of whether you file a consumer proposal or a bankruptcy.
Other than that there really shouldn’t be any impact on your spouse, but I do suggest you review this with licensed trustee in your area and he will be able to clarify any of these details for you.