Will be married does that effect/how long to wait?

January 31st, 2011 by Questions

I am considering a consumer proposal, but am getting married in a few months. Since I have recently used my credit cards, and i\’m not completely insolvent at this time, i was advised to wait about 6 months after my last transaction to file the CP. However by then i will be married, and we will most likely recieve money as wedding gifts, but it will be to both of us, and not mine to put on my debt (my fiance has none and is encouraging me to take care of mine).

Would the money i get from the wedding be considered in a proposal as money I should pay to creditors? Would i be better off filing before i get married? thanks

Posted from: British Columbia

Questions

One Response to “Will be married does that effect/how long to wait?”



, A licensed trustee said:

I wasn’t going to post this question, but we don’t have a method for responding any other way (the questions are anonymous after all)…

Go back and speak to whomever you originally spoke to. They did you quite a favor when they suggested you let some time pass before you filed because you were still using your cards. For others reading this posting, any large purchases or cash advances taken on credit in the 3 months before you file for bankruptcy or a consumer proposal may get you into trouble. If you used your card to buy gas no one will care – if you took a $1,000 cash advance you will likely be ordered to repay it. So the person you saw told you how to avoid any potential repayments…

Now you are asking if you “come in to some money” before you file, if that will be taken into account – yes, it will. So will your spouse’s income if you are living together. (In fact, if you are already living together it will be taken into account regardless whether or not you are married).

So go back to the person you already saw and lay all of your cards on the table – then you can decide how to proceed.

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