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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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Divorce and Bankruptcy

My boyfriend is going through a divorce and his ex wife and himself have a joint debt load of $104,000.00, he is and has been paying child support for his children, but he can not afford the outstanding debt living elsewhere. His ex wife is keeping the house with an outstanding mortgage of $194,000.00, the $104,000.00 is personal loans, credit cards and lines of credit. Is bankruptcy and option for him?

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One Response to “Divorce and Bankruptcy”

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

A bankruptcyor a proposal sound like would be good options to consider, but determining which option is best based on the snapshot profile you provided is not possible.

You need to review things in a little more depth with a licensed trustee in your area and he will be able to review all the pertinent information and help to decide what options will best suit your needs.