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If i claim bankruptcy, and i have a credit card with another name on it , will that person be responsible for paying it o.?even tho he is not responsible forthe dept..ALSO WILL I BE ABLE TO KEEP MY CAR ??

Posted from: Newfoundland and Labrador

One Response to “WHO`S RESPONSIBLE >??”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

If the other party signed on the credit card documents it makes no difference who made the purchase, they are fully responsible for the charges against that card. So if you file for bankruptcy you will be cleared from this credit card debt, but the other party will be responsible to see it paid in full

In terms of a vehicle and bankruptcy, you are permitted to have a vehicle that has equity up to the value listed in your provincial exemptions.