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Entering a common-law relationship with a bankrupt in process of discharge.

If a person is entering into a common-law relationship with someone currently in the process of having their bankruptcy discharged, will this affect the ultimate date of discharge of the bankrupt and will the non-bankrupt partner’s income and assets be a factor in the ultimate discharge of the bankrupt? In short, is entering into a common-law relationship with a bankrupt currently being discharged a risky and/or ill-advised move?

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One Response to “Entering a common-law relationship with a bankrupt in process of discharge.”

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

The only real issue is that of surplus. As you probably recall as a bankrupt you are required to contribute an amount each month to your bankruptcy estate based on your monthly income, and the size of your family. Therefore entering into a common-law relationship could have a significant impact on the cost of your bankruptcy depending and potentially delay the discharge. This really depends on a) how much your significant other brings home after tax, and b) how close to discharge you actually are (i.e. the closer the better as the change in household income may only impact one or two months). I recommend calling your trustee to discuss the situation and making your decision based on that conversation.