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Bankruptcy Question & Answer Forum - Canada


Author:

 

Anonymous

Date:

 

Dec 14, 2006

Question:

 

I live common law and want to claim bankruptcy for my debts but I do not have any income just my spouses. How does that work? Also, there are some places that I owe but do not know for sure how much. How do I find out? and do I tell them I am claiming bankruptcy?



From:

 

Alger & Associates Inc.

Date:

 

Dec 21, 2006

Answer:

 

1.In a bankruptcy, you would report your monthly income and expenses to the Trustee. Your spouse may choose not to be included. 2. If you are not sure who your creditors are, you can request a copy of your credit report on www.equifax.com. If you know who your creditors are, you can ask them to provide you with a current statement to find out how much you owe. In a bankruptcy, your creditors will need to prove their claim; therefore it is not necessary to know the exact amount, which is oustanding prior to filing. 3. Once you have made an assignment in bankruptcy, the Trustee will notify your creditors.

Vanessa Grant
phone: (403) 296-2977
vgrant@alger.ca



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