If you’ve ever co-signed a loan for a family member or friend, you might think you’re just helping them get approved — but what happens if they stop paying or file for bankruptcy? In this episode of Debt Free Life, Licensed Insolvency Trustee Richard Sklar from David Sklar & Associates explains the financial, legal, and credit risks that come with co-signing a loan in Canada. You’ll learn what happens to co-signers when the borrower declares bankruptcy or files a consumer proposal, why yo...
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If you’ve ever co-signed a loan for a family member or friend, you might think you’re just helping them get approved — but what happens if they stop paying or file for bankruptcy? In this episode of Debt Free Life, Licensed Insolvency Trustee Richard Sklar from David Sklar & Associates explains the financial, legal, and credit risks that come with co-signing a loan in Canada. You’ll learn what happens to co-signers when the borrower declares bankruptcy or files a consumer proposal, why yo...
No one likes thinking about death — but if you have debt, it’s important to know what happens to it when you’re gone. In this episode of Debt Free Life, Licensed Insolvency Trustee Richard Sklar breaks down how debt is handled after death in Canada, who is responsible for paying it, and how to protect your loved ones from financial stress during an already difficult time. Whether it’s credit cards, mortgages, or co-signed loans, we’ll help you understand what your family can expect — and what...
Debt Free Life
If you’ve ever co-signed a loan for a family member or friend, you might think you’re just helping them get approved — but what happens if they stop paying or file for bankruptcy? In this episode of Debt Free Life, Licensed Insolvency Trustee Richard Sklar from David Sklar & Associates explains the financial, legal, and credit risks that come with co-signing a loan in Canada. You’ll learn what happens to co-signers when the borrower declares bankruptcy or files a consumer proposal, why yo...