If someone out there could PLEASE help me out ???

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If someone out there could PLEASE help me out ???
« on: October 30, 2013, 05:34:59 PM »
If there are any kind souls out there that could help me out for I am confused over a few things here.

I have gone to talk to a trustee,they have looked all my options and here they are....
I use to own a house with my ex which i was on the deed right up to about 5 months ago ... There is no mortage on the home for the ex has paid if off and has done so all these years we lives together here in ontario .It was something we had always talked about was to sign the house over to the ex for i didn't want any part in the house and the payments that went along with it over the years ...so they always looked after the payments.

So now the trustee is telling me cause I was going to go bankrupty they will come after my ex for the house cause the house was only switched over 5 months ago ...the house was never signed over for this reason .
so the trustee said if I could get my ex to see a lawyer about giving me a cash settlement we could file a Consumer Proposal that the creditors might like then the house that was signed over would be left alone and the credit card company's couldn't or wouldn't come after the house that I signed over 5 months ago ..is this true or not ...if there is a kind soul out there that could help me out that would be greatly appreciated ....

Please me gentle on me ,for I know what I have done is wrong to use credit card but I was robbing peter to pay Paul and things have gotten out of hand for me  :(



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Re: If someone out there could PLEASE help me out ???
« Reply #1 on: October 31, 2013, 11:31:58 PM »
The trustee is required to investigate any time you sell or dispose of any property or have any property seized by a creditor. It's more that the trustee would come after both you and the house, not specifically your ex.  You may have to prove that you had no personal equity in the house. If you were to offer a Consumer Proposal, you would have to offer more than the amount of equity you have in your house. In my opinion, everything depends on how much equity you are supposed to have.

Don't forget that trustees love proposals - they get a lot more money out of them. To run a bankruptcy with house equity they may have to get an appraisal of the house value, etc.


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