Thinking of separating

October 11th, 2009 by Questions

I would like to leave my marriage, but I know financially, I can`t make it on my own, with the huge debt load we have. We owe $35000 in a line of credit, i have an $8000 MBNA MC, an $8000 CIBC Visa, a $6000 TD Visa, and $7000 SEars. Would you recommend bankruptcy?

Posted from: Ontario


One Response to “Thinking of separating”

, A licensed trustee said:

Trustees are not allowed to “recommend” bankruptcy or any other solution. What we can do is explain the various options and the ramifications of your choice. Based on the information you have provided, bankruptcy may very well be the correct solution for you, but you should use the links on this page to find a trustee in your area and give them call. They’ll review all your options and help you settle on a plan that makes the most sense for you.

This won’t make you feel any better, but about 1/3 of all bankruptcies in Canada are a result of some form of marital breakdown…

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