2014-02-13
This is a question that as Trustees we get asked a lot. The question you need to ask yourself is – “Did I co-sign or endorse” my partner’s debt?” This means, did you sign a document or a contract that acknowledges that if your partner cannot pay – you will.
Common types of these contracts are: mortgages, car leases, credit cards, etc. Credit cards are a bit harder to know because there are primarily 2 types: a supplementary card (where the primary holder is fully responsible) and a 2nd card where you are just as responsible as your partner for the total debts that are on the card.
How do you know which one you? Well, if you both have card and the statement is in both names, chances are you are both responsible for the debts. If you are not sure, the best way is to ask the credit card company for a copy of the original contract so that you can verify it.
2025-08-05
Bankruptcy Consumer Proposal
Losing your job can be frustrating and, even more so, managing your financial wellbeing while you’re unemployed. However, you can successfully navigate the situation with the right budgeting tips.
2025-08-04
Since it’s impossible to predict or prevent most medical conditions or emergencies, the best way to handle them is by planning and preparing for them.
2025-08-01
If you are considering filing for Bankruptcy, it is important to understand the impact on your employment and salary.
