She declared bankruptcy, what do I do now?
November 20th, 2014 by Questions
My wife and I just got divorced with me paying child support a spousal allowance apparently she has declared bankrupt , how can she declare bankrupt on something with no money owing on it plus partners in on it and the judge has awarded me the building , it cannot be sold as its on leased property , I am confused as what to do , I know I have to pay for any bills that are jointed in our name ,please give me some advice on this. Posted from: Nova Scotia
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November 20, 2014 at 9:29 am, Doug Stuive, CA | Trustee | CIRP said:
Unfortunately without more information on the nature of the debt you are concerned about, and more information about any other debts your spouse has listed in her bankruptcy estate it is difficult to give you advice.
It is true that you have to pay for joint debt. Even if your divorce agreement outlined who would be responsible for which debts this does not take away any obligation you have to pay according to your creditors. For this reason it is always a good idea to deal with your matrimonial debt as part of the separation in particular if once separated the debts are not affordable while maintaining two households.
I would talk with the trustee that is responsible for your spouse’s bankruptcy estate. Trustees are not lawyers and do not represent the bankrupts in the same way. If you are co-owner of a property or a joint debtor to the creditors the trustee should be able to give you the advice you are seeking.