Bankruptcy Question & Answer Forum - Canada

Author:		Dave
Date:		December 5, 2005
Question:		I live here in Alberta, have >$150,000 in debt and have stumbled along for over a year without declaring bankruptcy, hoping to complete all my tax returns and file in early January. I am hoping to get married this December - at that point, I will also have a stepdaughter. My questions: will my wife be responsible for any of my debts? Will she be able to continue working and having whatever income she can generate, or will our combined earnings be considered by my creditors?
From:		Bruce, Alger & Associates Inc.
Date:		December 6, 2005
Answer:		Good news. What is yours is yours and what is your future wife's is hers when it comes to debts. Just make sure that she gets no supplementary credit cards on your accounts. As for income, while a trustee is to take into account your family circumstance, there is no expectation of a contribution of income from your future wife. Sounds like it might be a good idea to have a financial resolution for this up coming new year. Bruce Alger phone: (403) 296-2970 balger@alger.ca