In this video, Richard Killen, a Toronto-based Licensed Insolvency Trustee talks about, the effect of your bankruptcy or your wife or husband’s assets.
I am often asked is “Are my wife’s or husband’s assets be affected in any way?”
Generally speaking, the way bankruptcy works, the answer is no. Your bankruptcy will not affect your spouse. If an asset is not commonly owned or jointly owned by both you and your spouse, then their assets are not affected.
Watch The video for more information.
If you are having debt problems and considering bankruptcy or a consumer proposal, you should definitely visit a licensed insolvency trustee so that you will be provided advice about your options to consider for debt relief.
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