My husband filed a consumer proposal after he lost his job. The banks voted yes to 85%, but put me in to collections without even sending me a statement. How much can they come after me for if they agreed to the 85% payback?

Posted from: Ontario

One Response to “Spouce”

A licensed trustee said...

Unfortunately, if you were jointly responsible for the debt to the banks, but didn’t file a proposal too, the banks have the right to try and collect from you the entire amount of the debt. As they receive payments from your spouse’s proposal, the amount you will be required to repay will be reduced, but they can collect the rest from you – plus interest. All of this should have been discussed with your spouse BEFORE they filed their proposal.