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?

When I called JP Graci and Associates, I was completely devastated. I was living in financial chaos and I was barely able to make the ends meet. Desperate, I started to borrowing money from Payday loa...

George M November 6, 2017

Thank you, you made my job so much easier.

F.V. April 25, 2015

Thank you so much for everything you and your staff have done to help me through this difficult time in my life. Thank you to Patricia for her smile and pleasant greeting when I came in the front and ...

Lisa, Brantford May 28, 2017

You guys are the best. I refer you to anyone I know who needs help. Thanks again

Dave W. February 18, 2017

This service is amazing! The team at JP Graci helped me with the stressful decision of going through a negotiation an understandable and simple process. From the explanation to instructing me on the r...

James K. July 25, 2017

Thanks again Sabrina, I can't say enough how much I appreciate everything you, Paul and company have done for me. It's overwhelming sometimes to think that someone still has their dignity even once th...

T.K. July 7, 2017

WE ARE ON SOCIAL MEDIA

SUBSCRIBE TO OUR NEWSLETTER

Get Important News, Information & Inside Scoops:

SUBSCRIBE NOW
Copyright © 2020 Copyright J.P. Graci & Associates Ltd. All Rights Reserved.
Sitemap - Privacy

Powered by: ConvexStudio.ca