Save Your Home or Car?
~ Your home ~
“May your home always be too small to hold all of your friends.” —Unknown
When you become bankrupt, your Trustee becomes the owner of your interest in any property that you own. By “property” we mean:
- farm or business premises.
Your Trustee has the right to sell your interest in property to help pay your debts.
However, before deciding to sell, your Trustee may investigate:
- the value of the property
- how much you owe to secured creditors
- what are the secured creditors’ intentions regarding the property
- the number of co-owners and their intentions.
There might be an opportunity to save your property or home.
That will depend on a number of circumstances.Please call us to discuss or complete the information below.
~Your car ~
“I only feel comfortable in my car – even if it is only a Ferrari.” —Unknown
Much the same principles apply to your car or motorcycle.
In fact, you are entitled to a car or motorcycle up to a certain indexed value before your Trustee has any interest in it.
Again, if you have any questions, please call us to discuss.