ADAM ASKED: I am married but I am declaring bankruptcy by myself. My wife pays the rent and I pay everything else. Do I still have to declare rent?
ANSWER: You are required to prepare a monthly budget detailing all of your family income and expenses when you file personal bankruptcy or make a consumer proposal.
Even though your wife is not filing personal bankruptcy, her income is still part of the family income and needs to be shown on your family budget. Likewise, any expenses that she is paying, including rent or other bill payments, should be included in your budget.
The goal is to help you and your family get a fresh start and move forward.
While you may be the only one with money problems and therefore the only one that needs professional assistance, part of helping you and your family get a fresh start is to try and make sure that you have a workable and reasonable budget.
The family budget is also a major topic of discussion in the two required credit counselling sessions, which are provided when you file personal bankruptcy or make a consumer proposal.
We have offices across South Western Ontario and consultations are free. We also have flexible hours to meet your needs so you don’t have to miss work.
Let us help you get a fresh financial start today!