398 – Can You Divide Debt in a Divorce?

More than 1 in 5 of our clients, people who file a bankruptcy or consumer proposal with Hoyes Michalos, are separated or divorced at the time they file with us. So, what happens when you have debt and are facing divorce? Can you divide debt in a separation agreement? What if it's joint debt? On today's podcast, Doug Hoyes and Ted Michalos explain how debt is managed when couples are facing separation and financial issues. They explain when it may be necessary for both parties to file insolvency if they have joint debt. They also discuss alimony, child support payments, and how joint assets are treated in an insolvency, among other issues. Tune in for lots of practical advice!

Links:

Should You File Bankruptcy Before or After Divorce? https://www.hoyes.com/blog/should-you-file-bankruptcy-before-or-after-divorce/

What Happens to Joint Property in a Bankruptcy? https://www.hoyes.com/blog/what-happens-to-joint-property-in-a-bankruptcy/

Divorce and Bankruptcy Law in Canada https://www.hoyes.com/blog/divorce-and-bankruptcy-law-in-canada/