Free Consultation

bankruptcy

Hi I have 50,000 in c/c debts under my name I own my home with my wife we have refin. 2 times in the last 6 years to bail me out of debt. we paid 145,000 for our home 7 years ago and now its 190,000 and now she want to leave me and take the kids So she want me to sign over my part of the house to her and for me to get out relly its all my debt on the house so I dont care there no money there for me but i still like to live in the basement becusae I dont want to leave my kids. how would this work for surpul income we both take home 2800 each do i have to use her income if I renting from her.

Posted from: Ontario
income we both take home 2800 each do i have to use her income if I renting from her.

Posted from: Ontario

One Response to “bankruptcy”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

If you guys are in the process of a divorce and you can verify that you are simply renting the basement, then your ex and any of the children she has custody will not be reflected in your surplus calculation. So that means her income would not be used, but if she has custody of the children you wouldn’t be able to use the children as dependents and you will need to verify the living arrangements for your trustee.