filing bankrupcty after marriage

November 19th, 2008 by Questions

I am currently in debt (student loans) and am engaged. Although I want to get married, I have some concerns due to this debt. I would like to know how marriage will impact my filing. I understand that filing is individual but how will what I must pay each month be calculated? We have already decided that when we are married, we will not have a joint bank account as we each have different spending habits and salaries. My fiance already has a house, so he will remain responsible for the mortgage & we will split the utilities and other expenses as required. Will both our incomes be taken into consideration for the repayment or only mine since I will be filing individually? My other question is, if in the event we seperate or divorce before I file, how will that impact my circumstances? Thanks a bunch Dazed and confused in NB

Posted from: New Brunswick


One Response to “filing bankrupcty after marriage”

, A licensed trustee said:

Whether or not you are married and/or operate joint bank accounts makes no difference to the bankruptcy process. The critical question that must be answered is whether or not you are living as a household unit. Incomes for room-mates are not combined. Incomes for people living in a household unit are. The cost of filing is based on the household units income.

If you divorce or separate prior to filing then that will affect your “household unit”. I have to caution you – if you are thinking of “separating” for the purposes of filing for bankruptcy and your trustee discovers your disception you may be subject to some fairly severe penalties under the Bankruptcy Act. these laws are designed to help the honest, but unfortunate debtor. If you lie about your relationship and living situation you no longer qualify as an honest debtor…

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