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”
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)
You must be logged in to post a comment.
October 14, 2013 at 6:45 pm, 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.