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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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My name on someone esles title

What happens if I am on title of my mothers house and I delcare bankruptcy?

Posted from: British Columbia

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One Response to “My name on someone esles title”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

This depends on whether or not you are living in the house. If not, then 50% of the equity in the house is yours and if you were to file a bankruptcy would have to go to the general benefit of your creditors. If you are living in the house then you may be able to claim a portion of the equity exempt and only the remainder would have to be distributed among your creditors. The exact amount that can be claimed as exempt will depend on where in BC you live and will need to be discussed with a local trustee.