2011-09-05
Hello, Your bankruptcy would not show on your spouse's credit report, however, they could be affected if you have joint debt - e.g. companion credit cards, co-borrowers on a loan. If you have joint debt, your spouse would remain liable for those particular debts. The Trustee will not have an interest in assets that are owned by your spouse. However, there are potential issues that could arise. For example, in Manitoba people often host a social for the couple getting married. This would result in a "windfall" or gift of cash for the couple and the Trustee may potentially have an interest in one-half of such funds. The Trustee must monitor the monthly income and expenses of the bankrupt's household. This would include the income of your spouse assuming you are residing together and may result in you having "surplus" income. The concept of "surplus" payments in bankruptcy is mentioned throughout our website. The best thing to do is contact a Trustee in your local area and have a discussion of your unique situation. Brad Milne, CIRP Trustee in Bankruptcy
2025-11-17
November 16-22, 2025 is National Addictions Awareness Week (NAAW) in Canada. Every year, organizations across the country observe this important week and do what they can to help those who may be struggling with addictions, while raising awareness and sharing information as to how family and friends can create support networks.
2025-11-13
Debt Solutions
Many may feel ashamed, embarrassed and completely overwhelmed about their debt. People experiencing debt-related stress often suffer from many associated health issues, such as sleepless nights, headaches, tension and more. And feeling out of control when it comes to managing their debt payments often prevents people from taking control of their financial situation. Not all debt results from overspending, living beyond one’s means, frivolous behavior or money mismanagement. To answer your questions about the stigma of debt, and to learn about the options available to you, tune into our Stigma of Debt VLOG series below with MNP's Licensed Insolvency Trustees.
2025-11-12
Bankruptcy Consumer Proposal
Summer fun doesn’t have to come with a hefty price tag.
