Do I have to pay off my credit cards?
- If you file a proposal or an assignment in bankruptcy, your credit card debts are included in the process.
- If your account has a co-signor, they will be liable for the full amount due, less any funds received from the Trustee.
- If there is a supplementary cardholder, you will need to read the fine print of your card agreement to find out if that person is liable for any part of the charges made by the main cardholder.
- If the supplementary cardholder goes bankrupt, the main account holder is liable for the full amount.
If you are not sure, discuss your concerns with your Trustee.
Contact Rumanek & Company Ltd. for more information. Or please fill out the form on the contact us page for additional information. Or if you would like a free evaluation please fill out the evaluation form.
To learn more please visit our YouTube Channel. Rumanek & Company have been helping individuals and families overcome debt for more than 25 years.