home equity

January 14th, 2008 by Questions

I reside in province of NB. If my husband and I file for joint bankruptcy
Is there any possible savings on trustee’s fees. Or we each pay the same 1800. We have about 5,000 equity on the house and if we do not have any money to buy it back (all at once) from trustee, what usually happens? Do we get out one the street or are there any other options? In our interest would be to keep the house. We appreciate your time in advance.

Questions

One Response to “home equity”


, Barton Goth GCO Bankruptcy Trustees said:

The only possible way to save on trustee fees is if the majority of your debt is held jointly, then a joint bankruptcy could likely be filed and result in one fee not twol.

As for the home, most trustee’s will permit you to pay for the non-exempt equity over time, so discuss this with your trustee.

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