March 26th, 2014 by Questions
Bankruptcy Questions: I make $850/week (approx $3,600 per month) at Vancouver’s best daycare centre. My total debts are $125,000. These include substantial tax debts to the Federal Government and a student loan with a balance of $26,432 that I took out to pay for training at an Early Childhood Education training school. My assets include a car worth $10,000 and a house in Vancouver that is registered jointly with my husband. Equity on the home is valued at about $150,000. I want to transfer the house into my husband’s name solely and then declare bankruptcy.
- Will all my debts be extinguished
- What will happen if I transfer title to the house?
- Is there any other property that I might be able to keep after his bankruptcy is over?
- What property is exempt from the Trustee generally?
- What will happen to my wage during the bankruptcy?
Posted from: British Columbia