It’s possible to file a consumer proposal for joint debts if you and the other person are both legally responsible for the same obligations, like a joint loan or credit card.
In this case, you may choose to file a joint consumer proposal, allowing both parties to include the shared debts in a single, affordable repayment plan. This approach ensures consistency in handling the debt and can simplify the repayment process.
The debts must be substantially the common to both of you.
Keep in mind, though, that the joint proposal will appear on both credit records, and each person must meet the eligibility requirements individually, as well as together as a household.
There are pros and cons to a joint consumer proposal. For example, what if the couple later split up? Or one of you stop helping with the monthly payments. Each situation is unique and by being open with your LIT you will get the benefit of all their education, training and experience to make the best decision for you.