March 3rd, 2011 by Questions
A family member filed for bankruptcy in late 2007. Today he is not discharged, because he has not complied with the terms of the bankruptcy. Now he is in the process of selling his house. How will that affect him considering he is not discharged from bankruptcy.
Posted from: Ontario
One Response to “Bankruptcy”
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March 03, 2011 at 7:46 am, A licensed trustee said:
Unfortunately, he does not have the right to sell his house until he has been discharged. If he wants the hosue sold, he has to ask his trustee to do so and any net proceeds (after closing costs have been paid) will be sent to his trustee for the benefit of his unsecured creditors.
In order to proceed, he needs to call his trustee and either complete his bankruptcy (and then sell the house) or ask the trustee to sell the house for him.