I stand to lose in civil lawsuit, the damages they are asking for $ 350,000.00 There is a good chance that they win, this will put me under so to say. I own a house together with my wife, the value is $ 550,000.00 I owe $ 400,000.00 How will this work out? Thanks in Advance.

In Alberta, the house exemption is $40,000. Your half of any equity over this amount would be available to creditors.

Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca