Connecting You with Trusted Licensed Insolvency Trustees – We’re Here to Guide, Not Decide. Learn More

Free Consultation

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.