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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Death + Bankruptcy

I did my mom`s finances recently after my dad`s death. Between her and the joint accounts between them, she now would have about $53000 in debt, a minimum payment of just a touch over $1500 a month on a $1100/month income. This doesn`t include bills and such.

The house was between me and my dad, so the house would transfer over to my name. There`s a considerable amount of tools and personal effects in the house and if my mother declares bankruptcy, would these items be brought into question?

Thanks

Posted from: Ontario

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One Response to “Death + Bankruptcy”

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

If these assets now belong to your mother then yes they would be factored in if she filed for bankruptcy. To determine the total impact on these items you are probably best to contact a local trustee discuss the exemptions available and how these will be able to be applied to these assets.