Posted on: 14th Jan, 2010 09:23 am
my ex wife is filing for chapter 7 and we both own the house, it is paid we are both on the deed it is paid for, how do I save my portian and how will I be effected by the bankrupcy
Hi ed!
Welcome to forums!
If the trustee decides to sell off the property to pay off your wife's creditors, then you won't be able to save your portion of the property. However, the trustee will hand over the sale price of your portion of the property to you. As you're not jointly filing bankruptcy with your ex-wife, you will not be affected by it.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If the trustee decides to sell off the property to pay off your wife's creditors, then you won't be able to save your portion of the property. However, the trustee will hand over the sale price of your portion of the property to you. As you're not jointly filing bankruptcy with your ex-wife, you will not be affected by it.
Feel free to ask if you've further queries.
Sussane