Bankruptcy
If I have caused the problem with money in my family, is my husband responsible, or can I declare bankruptcy on my own.
He has never used any of my credit cards, and has only given permission for one card
It just got out of hand, and I never realized how far I was in debt until I sat down and figured it out
I would like this question asnwered please
Thank you for your help
While I am not as familiar with the American Bankruptcy system, in Canada if you are successfully able to get court judgement that a debt was as the result of fraud or missappropriation then you can apply to the bankruptcy court to have a ruling that the debt survives. Whether this happens or not in the US I cannot say for sure but would recommend you contact a bankrutpcy lawyer in your local jurisdiction.
The easiest way is to contact your trustee. However, if for what ever reason you cannot remember who the trustee was you can always contact the Superintendent of Bankruptcy. They have a registry that you can search for a fee and it will tell you who your trustee was and whether or not you were discharged or not.
Complete your duties as required in order to be discharged. Once you have been discharged the bankruptcy will remain on your credit history for another 6 years.
Alternatively, you may apply to the Court to have a bankruptcy annulled (cancelled) – in order to do so you must prove to the debt that either: you were not eligible to file in the first place ; or you’ve repaid the debt in full.
This can definitely affect this business. As an undischarged bankrupt you are:
a) not eligible to serve as a director of a limited company, this is under the federal business corporation act and most of it’s provincial counterparts; and
b) unable to engage in any trade or business without disclosing to all persons with whom you enters into any business transaction that you are currently a undischarged bankrupt.
Unfortunately, whenever you enter into a contract and have associated obligations that you fail to uphold, there are ramifications and I suggest you contact your trustee so as to not prevent you from participating in future opportunities.
The surplus income is based on a guideline that is sent by the superintendent to every trustee in Canada. Technically speaking it only directly applies to someone filing a bankruptcy, but it is indirectly factored into both types of proposals as you have to offer at least as much to your creditors in a consumer proposal as you would in a bankruptcy and to determine this the surplus income guideline must be applied.
Your husband would only be responsible for the debt if it was obtained under his name or if he signed on the account as a joint borrower. If you are unsure your are best to gather up any documents relating to the debts and have them reviewed by a licensed trustee.