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Mr. Chalak

I have $120000 in unsecured debt, $20000 of wich is a line of credit joined with my wife. I want to declare bankruptcy but she does not. Can she take full responsibility for the line of credit while I declare bankruptcy?

Posted from: British Columbia

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One Response to “Mr. Chalak”

A licensed trustee said...

Yes she can – if she does not file then she will be held responsible for the debt anyway (as a co-borrower) so there’s nothing wrong with her contacting the bank before you file to assume the full debt (that is of course assuming the bank will let her…).