If you are considering personal bankruptcy or you believe that your spouse or partner might be, it is of crucial importance to contact a lawyer in a timely manner. At Quay Law Centre, we know that the timing of a bankruptcy declaration by either party can have a dramatic impact on the division of assets and debts in divorce and separation.
When two people have shared or joint debt and one declares bankruptcy, it can have a significant impact on the person who is not declaring bankruptcy. The financially stable person can be considered liable for credit card debt and other joint debt.
In both bankruptcy and foreclosure, the positioning of your claim regarding your property is critical. In divorce and separation, bankruptcy can significantly complicate the division of divorce assets, especially in cases where one spouse declares bankruptcy before a court order has been issued.
To arrange a consultation with one of our experienced family law lawyers, please contact Quay Law Centre online, call 604-527-1161. From our multiple offices, we represent clients in the Metro-Vancouver area, including Surrey, Fraser Valley, Tri-Cities, Burnaby, Kelowna, and any other area throughout British Columbia, Canada and internationally.