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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 Super Intendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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No Longer Together, But Living Together

I have been told that my debts are just too high and that Bankruptcy would be the best way to move forward. The issue is that I bought a house with my Common Law Wife six months ago and we broke up three months later. We are both on the mortgage and she has quite a high debt load, so I have been covering all the housing expenses, insurance etc. Neither of us can afford to get on with our lives and most of the possessions in the house are hers. What happens if I go bankrupt? Is her earnings taken into account even though I pay everything? Will the trustee repossess her things in the house like jewelry and furniture? We both just want to get on with our lives, but the bankruptcy won`t solve anything on my end if she is taken into account at all. Need advice.

Posted from: Ontario

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One Response to “No Longer Together, But Living Together”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

The best thing to do is for you to contact a local trustee, schedule a time to sit down and review the details of your situation. The trustee will then be able to determine what would need to be taken into consideration. Likely you will be treated as a single individual and only your assets will need to be reflected. Whether or not you must include your ex’s income will be based more than anything on how the bills are being handled.