138 - Marriage and Finances: Till Debt Do Us Part?

DebtMatters Podcast

It has been said that money can be like a silent third partner in a relationship. Whether you’re married or just starting to get serious with someone, it’s a good idea to cultivate open and honest communication about your financial situation. Licensed Insolvency Trustee, Bonnie Hooley has had a lot of experience with couples, helping them navigate their unmanageable debt. She understands how much stress debt can put on a relationship. Today she talks about:

• Partnering with someone who is in debt
• Separate finances as opposed to joint accounts
• How shared assets are dealt with in an insolvency
• Discussing finances and spending habits before committing to a relationship
• Dealing with financial differences.
• How Bankruptcy may be a saving grace in a relationship

If your finances are causing stress in your relationship, consult with a Licensed Insolvency Trustee where you live. They will explore all options with you and help you make a decision on the best way forward. Licensed and regulated by the Canadian government, you can be assured you are getting the best unbiased advice.

About Bonnie Hooley

Bonnie Hooley has worked in the insolvency field for over 40 years. She attained her Licensed Insolvency Trustee license in 1999 and is the Past President of the Manitoba Association of Insolvency and Restructuring Professionals (MAIRP). Over the years, she has served on various boards within her community.

Additional Resources

• LCTaylor Licensed Insolvency Trustee
• Leaving Debt Behind: What Happens to Debt When You Die
• Will Bankruptcy affect my spouse?