Ex husbands requirements to pay settlement amount
February 22nd, 2009 by Questions
My soon to be ex husband who earns $60,000 per year has just informed me that he has declared bankruptcy, leaving me, an unemployed full-time student all of our joint debt. If that is not bad enough, I have recently been informed by my lawyer that he will no longer be required to pay me the settlement amount he was supposed to pay as an equalization payment based on the portion of his pension that I am entitled to. Is this true that he can get out of paying what he owes to me? Also, he has a motorcycle…can he be permitted to keep this after filing for bankruptcy?
Your assistance would be greatly appreciated.
Posted from: Ontario
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February 23, 2009 at 10:12 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
Your lawyer is correct, any joint debt or any equalization amount that your ex owed you will be cleared upon successfully completing the bankruptcy. The types of debt that would survive a bankruptcy in this type of situation are payments that are designated as child support, maintenance or alimony.
In terms of the motorcycle, your trustee will have to determine what is going to happen with the motorcycle, but rest assured if it is a non-exempt asset the trustee will make sure it is dealt with appropriately.