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My parents are my landlords. Will that affect my bankruptcy?

Does the fact that my parents are my landlords affect my bankruptcy agreement/terms?

Posted from: Ontario

One Response to “My parents are my landlords. Will that affect my bankruptcy?”

Jillian Taylor-Mancusi, Trustee | B.A. | C.I.R.P said...

Whether or not your parents are your landlord does not affect whether or not you can file an Assignment in bankruptcy. What it can affect relates to a section of the Bankruptcy and Insolvency Act, under Directive 11R. The section refers to surplus income. It further discusses who is and who is not a member of your family unit. This could vary depending on whether you are renting a separate residence or living at home. You may want to discuss the details of your living arrangement with your trustee.