I have debts of approximately $25,000, I currently live alone with my child, I earn $40,000, and I plan to file for bankruptcy in November. I've met a man and I've been wondering about our future. I know my bankruptcy will last 21 months because, according to what I've read, I have surplus income. What would happen if I decided to move in with him in the months following my bankruptcy? He owns a house and has a high income of $100,000. Also, what would happen if I got married before my discharge? I'm afraid that my monthly payments will increase considerably if I move in with him.
Since your surplus income is calculated taking into account the income of those living with you, you are correct in thinking that the amount payable during your bankruptcy proceedings will change. During your meeting with a trustee, they will be able to provide you with precise figures.
Questions reliées
- A month before our separation, we bought a boat using a joint line of credit. My ex kept the boat, which means I still have a loan in my name that I have no control over. What are my options for removing my name from the joint loan?
- A year ago, I signed a car-sharing agreement with my ex-partner. We have since separated, and I have experienced significant financial difficulties and am planning to file for bankruptcy. Given my inability to pay for the car, can I include it in the bankruptcy proceedings? If my ex is ultimately held responsible for the car, can he take legal action against me and demand payment or anything similar? The car payments haven't been made for four months, and it will soon be repossessed by the finance company.
- Are the monthly bankruptcy fees the same for everyone, or do they depend on income? Also, if my spouse and I both want to file for bankruptcy, will we have to pay twice or only once? We have joint debts and each have personal loans. How does this work in that case?
- Does a protection clause also apply to a tax/government debt if I inherit during or before bankruptcy proceedings? And if the death of the person leaving an inheritance occurs before bankruptcy but bankruptcy proceedings have not yet begun? Is that inheritance still subject to seizure?
- Does marrying someone who is personally bankrupt (not discharged) make me responsible in any way or affect me personally?