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Seperated husband lives in the states

I am seperated from my husband who is living in the USA. He has dual citizenship. I am Canadian. Can I declare bankrupcy when most of our debt is in both names? Our seperation is not a legal one.

One Response to “Seperated husband lives in the states”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

The joint nature of your debts has no impact on your eligibility to file a bankruptcy. As long as you reside, carry on business, or have property in Canada and owe more than $1000.00 you are eligible to file a bankruptcy in Canada.

However, should you file bankruptcy, while this effectively clears you of the majority of your unsecured debts, your husband would still be fully responsible for any contract he was jointly listed on. I recommend that prior to proceeding you sit down with a trustee so he can look at the specific property that you and you husband own as this can have a significant impact on whether or not a bankruptcy is the best solution.