Financial problems affect your whole family in one way or another. Whether the debts are yours, your spouses or joint, if you can’t pay your creditors, it creates a lot of stress which affects everyone.
If you find yourself struggling to pay your creditors each month then it is time to get some advice.
When you meet with us for the first time, it is important that the information you provide is as accurate and detailed as possible.
When we discuss your debts, we need to know which debts are in your name, which debts are in your spouse’s name, which debts are joint and if either of you have a supplementary card. Being married does not automatically make your debts joint.
The Bankruptcy and Insolvency Act allows a married couple to file for bankruptcy together if their debts are substantially the same.
One of the most common reasons a married couple would decide to file bankruptcy together would be the cost of the bankruptcy. Filing together costs less than filing two individual bankruptcies as the trustee would have only one file to administer.
If one spouse has been bankrupt previously and the other one has not we would not recommend a joint filing.
If you feel that filing a bankruptcy might be the only option to deal with your debts then please call us at 310-PLAN (310-7526 no area code required) to book an appointment. We would be happy to sit down with you to discuss your situation and help you work on a solution to your financial problems.
If you would like to read more about bankruptcy, please visit our website which contains a lot of useful information.