supplementay card
May 3rd, 2010 by Questions
I have about $133k credit loan and line of credit.My ex-wife has joint account with me about $ 21k ( 2 credit cards and one line of credit about $ 13500) However I count there are $ 70k under my name but my ex-wife has the supplementary cards. She also sign for the application and used them as last X`smas for our kids. Does she responsible for the $ 70k if I file a consumer proposal. My house is worth $ 370k with $ 307k mortgage under 50% with my ex-wife.Should I go for a CP or bankruptcy
Posted from: Ontario
One Response to “supplementay card”
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May 03, 2010 at 7:34 am, A licensed trustee said:
The short answer is, if your wife signed for and used the cards then your wife is likely responsibloe to repay the entire debt (even the amounts that you charged).
It is probably in your ex wife’s best interest to speak to a trustee (or credit counselor herself) BEFORE you actually file so she can put a plan in place to deal with her situation.