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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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personal loans from family

I have borrowed funds from my common law spouse. If I declare bancruptcy will she be allowed to write off these loans?

Posted from: Ontario

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One Response to “personal loans from family”

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

As part of a bankruptcy you are required to list all your creditors. Your common law spouse wouldn’t be afforded any special status in the ranking of your creditors and would legally be cleared along with your other creditors as a result of succesfully completing the bankruptcy