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T O P I C R E V I E W
p_w
Posted - 11 August 2008 : 21:39:53 My brother -in-law is in a lot of debt. This debt was accumulated whilst being married. his wife kicked him out 18 months ago. Today he tried to declare himself bankrupt. The judge refused due to wife and 2 children still living in the joint home. He cannot pay his creditors, What are his options ?
3 L A T E S T R E P L I E S (Newest First)
John
Posted - 12 August 2008 : 11:39:06 Hi it would seem that the judge has the interests of the wife and children uppermost in his mind. Often this can be due to the fact that there is no official seperation. Judges often see such cases where there is a later reconciliation which can complicate the issue. Obviously your brother-in-laws relationship and the chance of such a thing happening only he and his wife would know. However, if he is sure that this is not an option he should go for legal seperation through the court to thrash out the details after which I feel he could successfully petition the court.
Posted - 11 August 2008 : 23:11:09 his share of equity left in the house is not enough to clear the debt. what is his next move? would it be better if one of his creditors forced his bankruptcy?
John
Posted - 11 August 2008 : 21:45:24 Hi there I would suggest that the wife and children still occupying the property should not, in itself, be sufficient reason to refuse a bankruptcy application.
If his share of the equity in the house is greater than his unsecured debt then he's not insolvent and the judge would refuse.
