Yes, Bankruptcy is an option even if you're unemployed. While your job status won't significantly affect the application process, it may impact how your Bankruptcy case unfolds, particularly regarding surplus income requirements. Seeking professional guidance from a Licensed Insolvency Trustee can help you navigate the process and determine the best path toward a debt-free future. For more information, read our blog post here .

Building an emergency fund, creating and sticking to a budget, and reducing debt can help strengthen your financial resilience in case of future job loss. Additionally, exploring alternative income sources, enhancing your skill set through education or training, and networking within your industry can improve your employability and provide additional support during periods of unemployment. It's essential to take proactive steps to safeguard your...

While Bankruptcy may impact your credit score and financial standing, it typically doesn't directly affect your ability to secure employment. However, certain industries or employers may conduct credit checks as part of the hiring process, so it's essential to be transparent about your financial situation if asked.

Individual debt happens when only one person takes on the debt, like getting a loan or a credit card in their name only. It's their responsibility to pay it back. This can include debts they had before getting married or during the marriage. Joint debt occurs when both partners agree to share the debt, such as co-signing on a mortgage or joint credit card. With joint debt, both partners are equally responsible for paying it off, regardless of any...

In most cases, each person must cover their own legal fees during a divorce. In some circumstances, one spouse is ordered to contribute to the other's legal expenses. This often depends on factors such as income disparity, financial need, and the complexity of the case. Some couples may choose to negotiate the division of legal fees as part of their divorce settlement agreement. It's important to discuss potential legal fees with your lawyer.