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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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What can I do to get out of this mess.

I had claimed bankruptcy in 2000. i was discharged in 2000 as well. however, since then i have been co-signer to my commonlaw spouse at the time. We have been separated 10 1/2 months. The vehicle has been repossessed. He wants to claim bankruptcy –how do i avoid doing it as well and if i do what are the consequences-do I have to go b4 a judge. I have two small children with no support from him. Can they garnish my wages?

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One Response to “What can I do to get out of this mess.”

A licensed trustee said...

Unfortunately, if you co-signed the debt then you may be held jointly responsible to repay the debt. If your ex files bankruptcy then the finance company will likely contact you with the expectation that you will pay off the debt.

If your ex hasn’t filed yet you may be able to have your name removed from the debt – it is worth trying even if it is not likely to be permitted by the creditor.

In regards to filing bankruptcy a second time – depending on where you live you may have to appear in Court to explain to a Registrar (a type of judge) why they should allow your bankruptcy. The Registrar may impose penalties, again depending on the practice where you live. If you contact the trustee that handled your first bankruptcy, or use the links on the side of the page to find a trustee in your area, they should be able to explain to you how a second bankruptcy works in your area.