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file bankruptcy together

My wife and I are decided filing bankruptcy is only option for us, but we’re not sure that should we file together at same time, or file seperate, or even file just my wife first, then I file it after she has been discharged. Thanks.

Posted from: Ontario

One Response to “file bankruptcy together”

A licensed trustee said...

Unfortunately, there’s no “rule of thumb” – we have had clients follow each of the strategies you mentioned.

In order to file jointly (one file for the two of you) “all or substantially all” of your debts must be similar. This standard has been set in common law at 90% of the debt, but it’s a failry loose guideline. So, when you list all of your debts if they aren’t “all or substantially all” the same then you may not be permitted to file jointly. If your debts are the same then you need to review each of the different options with whichever trustee you have decided to file with…