Hello,
I have recently been discharged from bankruptcy (3+years).
The trustee placed a caveat on the house as there was no equity.
Now discharged, after valuation, the trustee wants $40,000 in equity and legal costs.
I don't have $10,000, let alone 40,000. If the house was sold I would still owe money on the mortgage (despite the the trustees equity claim).
The home is joint own with my x-partner (who has no assets) in Tasmania.
Credit cards, new car payments... Was the cause of debt.
Could you please advise what my options are? What will the trustee do if I fail to act?
David
I have recently been discharged from bankruptcy (3+years).
The trustee placed a caveat on the house as there was no equity.
Now discharged, after valuation, the trustee wants $40,000 in equity and legal costs.
I don't have $10,000, let alone 40,000. If the house was sold I would still owe money on the mortgage (despite the the trustees equity claim).
The home is joint own with my x-partner (who has no assets) in Tasmania.
Credit cards, new car payments... Was the cause of debt.
Could you please advise what my options are? What will the trustee do if I fail to act?
David
