Heather Kates and her husband are separated. Heather's husband has some credit card debt in his name, and Heather has some in her name, as well as a co-signed loan for a car. Heather's husband is considering filing a proposal or bankruptcy but isn't sure how it will affect her and the kids. What will Heather be responsible for?
What can you do?
Effects on a family member are one of the most common concerns from those considering bankruptcy or a proposal. The debts that should be of concern are those that have been co-signed. If your husband or wife files a proposal or bankruptcy, they will be cleared of all debts; however, you will be responsible for any debts you co-signed. It is highly advised that you contact a licensed bankruptcy trustee to review this situation with you. To find a licensed bankruptcy trustee, click here.
posted by Questions @ 5:14 PM
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