Spouse goes Bankrupt with Credit Card Debt
Could I be held responsible for my spouse’s credit card debt if the cards are in his/her name only?
A person cannot be held responsible for someone else’s debt unless they have done the following:
1. Both parties have signed for the credit card as a co-applicant
2. The principle card holder has requested a supplement credit card for the spouse and the spouse used the card
If the spouse or common law partner does have a supplement credit card then we commonly use this questionnaire to determine if a supplement card holder is responsible for the debt:
1. Does the credit card statement come in one name or both names?
2. Does the spouse have a supplement credit card, if so, has it ever been used?
3. Did both people sign up for the credit card as co-applicants?
Obviously, the more you answer “Yes”, to questions above, the more likely you are to be responsible for the debt. It is important to note that there are “no hard fast rules” as some creditors will pursue supplement credit card holders while other creditors will not.
Contact Rumanek & Company Ltd. for more information on bankruptcy and debt solutions. Or please fill out the free bankruptcy 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.