when to consider bankruptcy

May 25th, 2012 by Questions

i am considering filling for bankruptcy and my question is .my wife and i have joint ownership of a home with about $100,000 equity each… only i plan to file for both business and personal bankruptcy. is it easier to file for bankruptcy while living in the home or after we sell it? thank you ron

Posted from: British Columbia


One Response to “when to consider bankruptcy”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

The answer to this question really depends on the specifics of your situation, so you are best to meet with a local trustee to determine that. However, as a general rule you are best to file the bankruptcy before selling or listing the home as then you will be able to protect the maximum amount of the equity within the property. But definitely consult with a local trustee before you decide what to do.

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.)