Question: My husband is considering declaring bankruptcy in Ontario soon. He has a secondary credit card on my card. Can this debt be included in his bankruptcy even though it is my credit card and will it affect my own credit rating.
Answer: If a husband and a wife are joint on a credit card, and the husband goes bankrupt, the husband is discharged from the debt; the credit card company can no longer attempt to collect money from the husband. However, the wife has not filed for bankruptcy, and therefore she remains fully liable for the entire debt.
More information can be found in our article entitled: Does Filing for Bankruptcy in Ontario Affect My Spouse?