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Husbands Debt

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”

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.