Pension Excemptions?
September 20th, 2008 by Questions
If someone is a Pensioner and has more then one House (Duplexes for Income) amd needs to file for Bankrupsty what can be done and must all Houses be affected??
Or can one give back some to the Banks if not able to sell and how will it affect the Credit?? Thanks
Posted from: British Columbia
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September 22, 2008 at 9:20 am, A licensed trustee said:
If you own rental properties then you’re not a simple pensioner, you are an investor of sorts and therefore your bankruptcy will likely be abit mroe complicated.
Use the links to find a trustee in your area and speak to them directly. You may voluntarily surrender any/all of your houses if/when you file for bankruptcy and your trustee can help you decide what makes the most financial sense in your situation.