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Getting married and bankruptcy in Calgary
Question: My fiance and I are both considering filing bankruptcy in Calgary. When we get married if we file jointly, will previous debt from before the marriage be wiped out?Answer: First, to file a joint bankruptcy, most of your debts must be the same. If you both have separate debts, you will not be filing one bankruptcy together. However, if you both have debts, you can both file bankruptcy.
The purpose of declaring bankruptcy is to discharge your debts, so the answer to your question is yes, if you go bankrupt, whatever debts you had before you declared bankruptcy will be discharged.
There are some exceptions to this, including debts for child support, certain student loans, and other items, so we suggest you and your fiance consult a Calgary bankruptcy trustee to decide if bankruptcy is the correct solution for you.
Labels: bankruptcy Calgary, bankruptcy trustee
posted by Questions @ 3:45 PM
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