Ex common law husband claiming bankruptcy
April 27th, 2012 by Questions
My ex common law husband left me and our 8 month old son a few months ago. We own our condo jointly and also have a joint line of credit. If he claims bankruptcy as he is considering, how does that affect me?…as far as the mortgage, line of credit and child support?
Posted from: Alberta
One Response to “Ex common law husband claiming bankruptcy”
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)
You must be logged in to post a comment.
April 27, 2012 at 11:35 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
If your ex-husband files for bankruptcy you can expect that he will be removed from any unsecured debts that are in his name or are held jointly with you. So for instance, if you have a $10,000 unsecured line of credit that is jointly held, then he will no longer be responsible for it but you will still be responsible for the full amount.
The mortgage is a bit more difficult to explain as it depends on who is in the house, what the status of payments are on the mortgage, how much equity is in the house etc.. But his bankruptcy won’t impact the child support in any way.