FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

"*" indicates required fields

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

This field is hidden when viewing the form

Source

How can we help you?

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Comments

This field is for validation purposes and should be left unchanged.

Select Trustee By Province

bankruptcy with rental income?

I have about 40 000 in credit card debt, but I own 25% of a triplex and my father owns the other 75%. Would I be able to still file for bankruptcy, even though I own part of that house?

Posted from: Quebec

Share this post:

X (Twitter) Facebook LinkedIn Email

One Response to “bankruptcy with rental income?”

A licensed trustee said...

You may still file, but if there is equity in the building you will be required to pay your trustee an amount equal to your 25% share of the equity in order to keep your share of the building. In addition, your portion of the rental income profit (if there is any) will have to be reported each month to your trustee too.

This is definitely something you want to discuss with your trustee BEFORE you decide to file.