2025-09-12
To be or not to be — a director. That is the question.
Thinking of becoming a company director in Canada? Sure, it’s an impressive title. But it’s also a serious legal responsibility.
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
2025-09-12
Thinking of becoming a company director in Canada? Sure, it’s an impressive title. But it’s also a serious legal responsibility.
2025-09-04
Bankruptcy
The intention of Canadian bankruptcy law is to provide honest and overextended debtors the opportunity for a financial fresh start.
2025-09-02
Lifestyle Debt Debt Solutions
You already know the many benefits of skilled money management. The fact you’re reading this blog post says at least that much. Your challenge, like for most households, is how to navigate the seemingly infinite demands on your frustratingly finite income.