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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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income tax

My husband and I are seniors and have claimed shared income. I owe income tax 2100.00 and have to claim bankrupcy for unsecured debts in my name. My husband has his own debts and does not want to claim bankruptcy. Other than a 2001 van which needs 1000.00 repairs, we have no assets. What happens to income tax?

Posted from: Manitoba

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One Response to “income tax”

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

If all the debts are in your name and your husband has not signed on anything relating to these debts, then there is no need for your husband to file for bankruptcy. As for your income tax, if you file for bankruptcy, you loose your income tax for the year of bankruptcy and any prior years that haven’t been filed.