How Will Bankruptcy in Canada affect my spouse / partner?

Bankruptcy Canada Questions & Answers

Author:		Anonymous
Date:		April 19, 2008
Question:		My husband and I have been separated for aprox. 1 year. Durring our marriage he racked up his credit cards due to gambling and also put us at out limits with borrowing from the bank. He just declared bankruptcy my issue is that 2 of his credit cards I was a secondary card holder and a loan I was attached too. I was a stay home mom and never paid on them during the marriage and turned my back on them after i left him. I understand that I will loose my vehicle that was tied into the loan but can the credit card companies come after me for payment? Do I need to declare bankrupcy too to avoid this situation??
From:		Gary Alger & Associates Inc.
Date:		April 19, 2008
Answer:		Unfortunately if you signed the credit card applications as a co-borrower you are liable for the full balance of the account and the remaining balance of the loan if the car is seized and sold. If you did not sign for the debts you are not liable for the balances. If you are contacted to pay these balances then you should contact a trustee. Gary Howitt phone: (780) 442-1983