Joint Savings account in a Consumer Proposal
Just a quick question, I have decided to go see a Trustee about a consumer proposal, however, I have a savings account that is quite a ways into overdraft and my mother has been joint on the account since I was a child, would she be responsible to pay off the debt if It was included in my consumer proposal.
Posted from: Nova Scotia
You are correct that a consumer proposal can only clear you from debt that is in your name. As soon as someone else signs on a debt, they become legally responsible for the full balance.
So with a consumer proposal you would be cleared from this amount, but your mother wouldn’t.