FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

"*" indicates required fields

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

This field is hidden when viewing the form

Source

How can we help you?

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Phone

This field is for validation purposes and should be left unchanged.

Select Trustee By Province

spouse assets in bankruptcy

i want to file bankruptcy and my spouse is business owner. He does not want to be a part of my bankruptcy. We have nothing joint. His assets are in his name only. Is there a way his income and assets are not considered in bankruptcy.

Posted from: Alberta

Share this post:

X (Twitter) Facebook LinkedIn Email

One Response to “spouse assets in bankruptcy”

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

If all your debts and assets are separate and always have been, then there is a way for a bankruptcy or a consumer proposal to ve filed just based on your income and assets. However, the way the legislation requires this to be done can often end up costing you a little more.

What takes place is there is a guideline that is put together by the Superintendent of Bankruptcy, it is called the surplus income obligation and it ultimately calculates what the cost of filing a bankruptcy is. When a spouse “refuses” to provide information this allowable amount on this guideline is reduced by 50%, so sometimes the result is the cost of bankruptcy can be greater, but it really depends on the figures we are dealing with.

This is a confusing issue and one I suggest you discuss directly with a local trustee.