Personal Bankruptcy Forum


Author:   Fred
Date:   May 3, 2001
Question:  

I am currently in debt of $30,000.00 and can't seem to get ahead. I am sole proprietor of buissiness that went broke. I have unsecured loan at bank for $13,000.00 and credit cards of approx $10,000.00. My suppliers have frozen credit for material so I can't do any major work. I have no cash flow and can't seem to get on line with these outstanding debts. I owe suppliers approx. $7,000.00.

I am in a common law relationship, but these debts are soley mine and my partner is unaware of the extent of them. Can I file for bankruptcy without affecting her? She is on permanent disabilty insurance and has a zero taxable income?

 


From:
 

Ann Clarke, Collins Barrow Limited
Date:   May 3, 2001
Answer:   Filing for bankruptcy will not affect your common-law spouse unless she has also signed on the debts. If you would like additional information about your situation and bankruptcy, contact a Trustee such as Collins Barrow.

Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca




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