Consumer Proposal and how it affects assests jointly owned
I am married and have found that I have accumalated a debt of 45,000 in my name with out my husbands knowledge. Can I ask for Consumer Proposal myself or does my husband have to be involved. I don`t want to risk losing our home and other assests.
Posted from: Ontario
It is very common for one partner of a marriage to have to file a consumer proposal and it really has no impact on your assets whatsoever. Unlike a bankruptcy, in a proposal no assets are vested in the trustee so there is no risk of looking those assets.
The best thing for you to do is to contact a local trustee and they will help you through the process.