Marriage seperation and bankruptcy

August 20th, 2008 by Questions

I am planning on seperating from my husband. We currently have a mortgage together and over $40,000 owing in line of credit and credit cards, all in both of our names. I am currently unemployed and know I won`t be able to off any debt on my own. What happens I declare personal bankruptcy?

Posted from: Ontario


One Response to “Marriage seperation and bankruptcy”

, Barton Goth - Goth & Company Inc. - Bankruptcy Trustees said:

This depends on a number of things. First there could be an issue with the equity in the house and this is comething you would have to discuss with a local trustee to determine for sure.

In terms of your joint debts, you would be released, but your husband would still be responsible for those.

Other than that there likely wouldn’t be much that would impact your husband, but you always need to review the details with a local trustee before we can know for sure.

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