Separate before or after going bankrupt
June 1st, 2009 by Questions
I`m common-law with 2 dependents. My partner and I are planning on separating, we have joint debts- 2 bank loans, holiday trailer payment and a mortgage, there are is no equity in the house or trailer. I have $25000 in credit card debt and I want to file for bankruptcy. My partner does not want to file for bankruptcy. Is it better to file before or after we separate? My concern is my responsibility towards the joint debts, if I file for bankruptcy, we separate and I am left with my portion of the joint debt, and I cannot afford to pay it, I will be stuck. What are my options? Thanks.
Posted from: Alberta