If the debts relate to specific items of property, for example the furniture, it is possible that a court would require the party who kept the particular items of property to pay the associated debt. It is not likely that claims for old credit card debts would otherwise be split, given the passage of time and the difficulty in establishing what the debts were for. But with the limited facts available it's impossible to be sure.

I believe that Ontario imposes a six year statute of limitations on contract actions. It's possible that the action at issue would be brought under a different legal theory, in which case a different limitations period would apply.