I now live and work in Germany, but I still have a lot of outstanding debt in Canada. About $8000 in credit card bills, another $6000 in personal loans and about $10000 in Student loans.

If I declare bankruptcy in Canada will I have to disclose my financial information and earnings in Germany? I am also married to a German citizen. Could this affect her in any way?

If you declare bankruptcy in Canada you are required to report all family income for the nine months of the bankruptcy. Also, all assets are looked at and you are allowed certain exemptions, depending on the province you are living in. I am not sure of the exemptions in Germany. The only way this affects your spouse is if she signed for any of the debt and the that fact she must record her income each month as family income must be reported.

Also, if you left school in the last ten years, your student loan will survive the bankruptcy.

Shane Brenneis
phone: (403) 298-1575
sbrenneis@collinsbarrow.com