FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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Joint Credit Card

I am thinking of declaring backruptcy however one of the credit cards is in both my husbands and my name as a joint account. How does this affect him? Does he just become responsible for the debt and have to pay it or does it affect his credit rating. Will he have to declare too?

Posted from: Alberta

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One Response to “Joint Credit Card”

A licensed trustee said...

He simply becomes responsible for the debt. If he is unable to make the required payments then it may adversely affect his credit report, but only if he doesn’t pay.

You may want to consider asking him to contact the credit card company in advance to have your name removed from the card (ie he assumes the full debt before you file). In this way the credit card won’t be notified when you do file – at leat not for this account.