Does Filing for Bankruptcy in Canada Affect My Spouse?


Filing for bankruptcy in Canada will not directly impact your spouse. Your debts are your debts; only you are accountable for them. In the event you go bankrupt, your debts are discharged. Your partner is not accountable for your debts.

Plenty of people believe that because you are married, your spouse is easily responsible for your debts. This is false. A strategy that collection agents use when trying to collect from you is to tell you that if you don’t pay they are going to get the money from your spouse. This is a scare tactic because they can only go after your debts.

The only exclusion is if your partner has co-signed or guaranteed your debt.

There might be an indirect impact on your partner in the future should you be trying to get financing jointly. As you restore your credit, you may not be eligible to co-sign a loan or obtain credit.



If you are overwhelmed with a financial crisis, J.P. Graci & Associates Ltd can help! Call us now at 519-753-7361.



WHAT OUR CLIENTS SAY?

HI Paul. Once very long ago my husband used your services, thank you ... you helped him get his life back on track. I work with mortgages. At times I help my client settle with creditors to get them b...

S.B., Brantford July 1, 2017

Everyone is great, knowledgeable and friendly. The staff does their best to make you feel comfortable. I highly recommend JP Graci and Associates. I live in Brantford and it is really close to the off...

Katrina S. September 18, 2017

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I am so impressed with the support and customer service from the team at J.P. Graci and Associates. Thank you for the wonderful service!

Sam R. May 15, 2017

The staff were lovely and incredibly helpful. They were empathetic with my stress from the bankruptcy. They also gave great advice on my credit recovery. Thanks especially to Paul for his service and...

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Thank you, Paul for helping get my life back on track.

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