Comments on: personal bankruptcy http://www.bankruptcy-edmonton.com/bankruptcy/2007/01/personal-bankruptcy.html Bankruptcy Edmonton Tue, 07 Feb 2012 15:47:45 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Barton Goth, GCO Inc. Bankruptcy Trustees http://www.bankruptcy-edmonton.com/bankruptcy/2007/01/personal-bankruptcy.html/comment-page-1#comment-29 Barton Goth, GCO Inc. Bankruptcy Trustees Mon, 08 Jan 2007 22:23:00 +0000 http://www.bankruptcy-edmonton.com/bankruptcy/2007/01/personal-bankruptcy.html#comment-29 There are really only two ways to become bankrupt. First, a person (or a persons authorized legal representative) can voluntarily assign themselves into a <a HREF="http://gothandcompany.com/bankruptcy-in-edmonton/" rel="nofollow">bankruptcy</A>, or second, a creditor can petition a person into <a HREF="http://www.canada-bankruptcy.org/personal-bankruptcy-canada/" rel="nofollow">bankruptcy</A> (although this is very rare). The later seldom happens.<BR/>Also consider that your wife may get the point where her credit rating becomes bad enough that no one will be willing to provide any futher credit and as long as you do not cosign or guarantee any of her debt you may be able to accomplish the same result. However, to effectively do this and protect yourself at the same time you should not have her listed jointly on any of your accounts and all major assets should be in solely your name. There are really only two ways to become bankrupt. First, a person (or a persons authorized legal representative) can voluntarily assign themselves into a bankruptcy, or second, a creditor can petition a person into bankruptcy (although this is very rare). The later seldom happens.
Also consider that your wife may get the point where her credit rating becomes bad enough that no one will be willing to provide any futher credit and as long as you do not cosign or guarantee any of her debt you may be able to accomplish the same result. However, to effectively do this and protect yourself at the same time you should not have her listed jointly on any of your accounts and all major assets should be in solely your name.

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