We have been living separate since 2007, are currently going thru divorce court but a decision hasn't been rendered. He will file for bankrupcy. Am I legal responsible for his debt? Can they come after my assets to cover his debt? Does this affect my spousal & child support?
Hi, I had filed for a divorce in court as my spouse and I were unable to reach an agreement and he was being non-cooperative in terms of trying mediation. He filed an answer to my divorce application. In the last few months, we have been able to reach ...
Divorce is a challenging process, and it becomes even more complicated when there are suspicions of hidden assets. In Ontario, as in many jurisdictions, spouses are required to fully disclose their financial situation to ensure a fair division of prope ...
What Is One-Sided Divorce? One-sided divorce is possible in Canada without the other spouse's consent. This type of divorce can proceed even if the other spouse does not respond or agree to the divorce terms, making it a significant aspect of Canadian ...
What can you invest on or buy while you are going through divorce
Divorce is a life-altering event that can be emotionally draining and legally complex. When a divorce becomes contested, both spouses cannot agree on some or all of the key issues. This can lead to more significant challenges, as the court has to step ...
If you've been wondering, "Do divorce lawyers work on weekends?" you most likely are experiencing the common truth that navigating the complexities of divorce can be challenging, and finding the right time to discuss your concerns with a divorce lawyer ...
Bankruptcy does have consequences if you are currently going through divorce proceedings. You should not be held responsible for his debts but if you have any kind of joint debts, then some of the responsibility will ultimately fall back to you. If you are bound by the Partnership of acquests regime and his acquests are in the negative, you have the right to refuse to share in his acquests (thereby refusing half of his debt).
Bankruptcy will have an impact depending on a few factors but here is the general rule:
If he declares bankruptcy before judgment then it shouldn’t impact your right to receive the amounts in the judgment insofar as the amounts owed in the divorce judgment will not be included in the bankruptcy;
If he declares bankruptcy after judgment then it will impact your claim insofar as the amounts owed are included in the bankruptcy. In this case you would have to file a claim as a creditor.
Insofar as spousal and child support is concerned, these will only be affected if the amounts awarded are based on asset valuation. If the amounts were only awarded based on his revenues then it shouldn't change much insofar as bankruptcy should not affect his revenues. In certain circumstances you might be able to obtain more support insofar as his capacity to pay will increase following release from bankruptcy or following a debt consolidation plan.