April 9th, 2008 by Questions
My wife has a student loan and she is thinking of filing for bankruptcy. We presently own a home which is under both our names. How does this effect us? I have not co-signed her loan.
April 10, 2008 at 6:34 am, A licensed trustee said:
If you wife files for bankruptcy then her hsare of the equity in your home will have to be paid into her bankruptcy – before you go too far down this path you should use the links to find a trustee in your area and give them a call to discuss your options.
Before you ask, no, you cannot simply transfer the house into your name alone – unless you pay yur wife for her fair share of the equity a Court will simply reverse the transfer if she files for bankruptcy.
Sorry – call a trustee for a detailed review of your options.
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