June 21st, 2011 by Questions
Am I responsible for my husbands debts?He is considering bankruptcy. He has assets of about $100,000 and debt of $200,000 – all in his name. I have assets of about $100,000 – in my name mostly RRSPs about $20,000. cash.
Posted from: Alberta
One Response to “Husbands Debt”
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.
June 21, 2011 at 9:30 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
If all the debts are solely in your husbands name (i.e. you have not signed on anything, no loan agreements, no supplementary cards, nothing) and all your assets are in your name, then you are not responsible for any of your husbands debts. If you assets are jointly owned there may be some indirect impact on you, but only up to the share of equity in that asset that reflects your husband.