Bankruptcy Question & Answer Forum - Canada

Author:		D.D.
Date:		August 19, 2005
Question:		About 2 years ago my inlaws on my step mother side brough a civil lawsuit against myself and 2 brothers. The first time we went to court we won the lawsuit and they turned around and appealed the decision. I was told if they win the lawsuit and get judgement I can't filed bankrupcy on this. I heard they can put an attachment on my home if they get judgement where I can't sell it or borrow money against it. I hate to filed bankrupcy since my credit is A1 and has been for 20 years or longer but want choice do I have if they win they will have my house one day after paying on it for years?
From:		Bruce, Alger & Associates Inc.
Date:		August 19, 2005
Answer:		I am surprised that the debt that might be created by this legal action would not be a debt discharged in a bankruptcy. Given the complexities of your situation, you should consider sitting down with a trustee to review your affairs in detail. Bruce Alger phone: (403) 296-2970 balger@alger.ca