Joint vs individual bankruptcy

February 18th, 2009 by Questions

My husband and I are days away from filing for bankruptcy. Because I had more access to available credit, I used cheques made available by my creditors to satisfy monthly minimum payments on both of our credit cards/lines of credit etc. Consequently my debt is approximately 45% higher than my husband`s and I`ve been advised that we should go bankrupt separately. I question this? Why would we do this?

Posted from: Ontario


One Response to “Joint vs individual bankruptcy”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

You would have to discuss this with the trustee you spoke with. It may be that you don’t qualify for a joint bankruptcy as your debts are not substantially similar. Although, there may another reason the trustee insisted on this.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)