2025-10-13
Managing debt through divorce: What to consider
Debt Solutions Lifestyle Debt
When relationships end, shared debt can become a lasting burden. Here’s what to know about your responsibilities, risks, and financial options.
2010-08-12
One of your duties as a bankrupt is to report your entire household’ income to your trustee so that your surplus income obligation can be calculated. It is then your obligation to pay the surplus income as calculated. Failure to the pay the required surplus income obligation will delay or possibly prevent your discharge from bankruptcy. In cases where the spouse refuses to divulge his or her income to the Trustee, the surplus income obligation is calculated without regard to the spouse’s income; however the threshold above which surplus income is calculated is adjusted appropriately. If your spouse is not a bankrupt, your trustee will not have access to his income information. However, at the time of filing of your tax returns of the year of bankruptcy, you will have to provide your trustee with your spouse’s net income. I would strongly suggest that you advise your trustee of your situation so that the issue can be properly addressed. Your discharge could be affected if your situation otherwise comes to the trustee’s attention.
2025-10-13
Debt Solutions Lifestyle Debt
When relationships end, shared debt can become a lasting burden. Here’s what to know about your responsibilities, risks, and financial options.
2025-10-06
MNP Consumer Debt Index
Ontarians’ financial vulnerability is intensifying as persistent economic uncertainty, concerns about borrowing costs, and employment anxiety weigh on household confidence.
2025-10-06
MNP Consumer Debt Index
The financial vulnerability of Saskatchewan and Manitoba residents is intensifying as their financial cushions shrink and more households edge closer to insolvency.