FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Joint vs individual bankruptcy

My husband and I are days away from filing for bankruptcy. Because I had more access to available credit, I used cheques made available by my creditors to satisfy monthly minimum payments on both of our credit cards/lines of credit etc. Consequently my debt is approximately 45% higher than my husband`s and I`ve been advised that we should go bankrupt separately. I question this? Why would we do this?

Posted from: Ontario

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One Response to “Joint vs individual bankruptcy”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

You would have to discuss this with the trustee you spoke with. It may be that you don’t qualify for a joint bankruptcy as your debts are not substantially similar. Although, there may another reason the trustee insisted on this.