Both my wife and I have debts. I have cosigned on some of hers and she has cosigned on some of mine. We live together, have been married for 10 years, and have 2 children. We both work. My question is can the both of us file a consumer proposal togher. I have read your site (which is very helpfu) and read alot about a joint bankruptcy, is there such a thing as a joint consumer proposal?
Joint debt and a consumer proposal
Posted on Wednesday, June 4, 2008
posted by Questions @ 7:25 am
1 Expert Comment:
At June 7, 2008 |
6:58 am
, Barton Goth GCO Bankruptcy Trustees Said...
Technically it is possible and practically it is quite common but there are a few requirements that must be met inorder for you to be eligible to do so. Essentially the main requriement is that the majority of your debt is similar, but you also have to ensure that none of the creditors would be better off if your files were handled individually.
So the best thing to do is to contact a contact a trustee, after looking at the details of your situation they will be able confirm whether you are eligible or not.
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