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co-signer on credit card

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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One Response to “co-signer on credit card”

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.