co-signer on credit card
October 21st, 2008 by Questions
i have a co-signer on my credit card, when i declare bankruptcy will that person become liable for the amount on my creditcard, or will the creditcard be taken care of without involving that person?
Posted from: Ontario
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October 22, 2008 at 11:26 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
If you have a co-signer on a credit card if you declare bankruptcy that co-signer will be fully resonsible for the outstanding balance on the card. That is the responsibility a co-signer takes on, they have verified that the debt will be paid in full irrespective of what happens to the other party.