May 25th, 2010 by Questions

I live common law..If I declare bankruptcy will they come after the house..It is in his name not mine..We have been together for 18 years..His name goes on my income tax..

Posted from: Ontario


One Response to “”

, A licensed trustee said:

If the house is not in your name then it will not be involved in your bankruptcy. Your common-law spouse will be expected to tell you there income every month so that you can report the total household income to your trustee – this is done because the cost fo filing for bankruptcy depends on total household income and the number of people residing together.

The only other way ytour common law spouse may be involved is if they have co-signed or guaranteed any of your debts. If they have then the lender will expect them to make the payments on the debt if/when you file.

Contact a trustee in your area to discuss your situation in greater detail before you decide what to do…

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