January 19th, 2009 by Questions
i have and credit card in my name but my mom is the second card holder would she be responsible for that if i file bankruptcy?
Posted from: Newfoundland and Labrador
January 19, 2009 at 10:07 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
This depends on the agreement signed. In most instances to be also held responsible for the debt your mother would have had to sign on the original agreement. However, In some instances the agreement also states that any supplemental card issued and the signature on the back all so makes the the supplemental card holder jointly responsible for the full account. The best thing to do is to go back to your original agreement and read that through. My guess is that if she has not signed that agreement then it is only in your name, but you should verify that.
Just for reference a good indicator is who’s names are listed on the bill you receive each month. If it is just you that suggests you are the only one responsible. This isn’t always correct, but most often it is.
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