Declaring bankruptcy

October 14th, 2013 by Questions

My husband and I owe about $50,000 in debt between us. His credit rating is terrible but mine is very good. We only have 1 joint account, a line of credit in the amount of $20,000. If he were to declare bankruptcy, can he do it alone, or will it have to be both of us based on the fact that we have that joint account?

Posted from: Ontario


One Response to “Declaring bankruptcy”

, A licensed trustee said:

Yes, your spouse can file by himself to deal with his financial problems. The only direct impact on you is the fact that you will be held 100% responsible for the joint debt of $20,000.

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