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Single or Married

Is there a difference between claiming married over single in a consumer proposal or does it matter? With the number of $ 1900 your allowed to make that would be for single is that different for married with children?

Posted from: Ontario

One Response to “Single or Married”

A licensed trustee said...

First – it is a matter of fact whether or not you claim as single or married (or common-law). Once you explain your living arrangements with your trustee they will tell you how you will be treated under the law.

In order to have a consumer proposal accepted, one of the tests is that you are offering your creditors more money that they would receive if you filed for bankruptcy. Your payments in bankruptcy depend on the total household income and the number of people that live in the household.

In other words, whether you are married and have children will impact the amount you have to offer your creditors if you file a consumer proposal. Whichever trustee you see will explain all of this in detail before you file your proposal.