my mom and her her debt
April 12th, 2010 by Questions
so my mom is a widow and is on odsp and owns her home…but constantly uses creditcards to pay her utilities of the home. there is no mortgage on the home. so if she declares bankruptcy would she lose her house? she has no other assets
Posted from: Ontario
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April 13, 2010 at 9:41 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
You are correct, if you mother were to file for bankruptcy, assuming her house is owned free and clear, this is an asset that would have to be liquidated for the general benefit of creditors.