Typically when someone dies, their personal debt does not get passed on to surviving family members. Their debt belongs to them and them alone; it is not passed on to their family members when they die.
Managing debt after divorce can be overwhelming for many people. Take solace in knowing that you’re not alone.
I have many married couples ask me if one spouse can file bankruptcy without it affecting the other. The answer always depends on their personal situation.
If you file for bankruptcy your ex-spouse may be affected if you have a joint mortgage. Your bankruptcy will remove you from your responsibility to pay that debt, however, it does not:
One of the leading causes of divorce in Canada is financial mismanagement. And one of the leading causes of bankruptcy is divorce.
When it comes to having a baby, people tend to talk most about how you won’t be able to sleep for the first few months and how your social life will suffer. The financial impact of having a baby is less talked about yet needs serious consideration.