I am going through a separation and she is seeking a large amount of money for monthy support. Right now I have the 2 children which could change if and when we go to court to settle custody. When this is all settled I will have to claim bankruptcy, due to lawyer fees and court cost can they be inculed in the bankruptcy? Right now I have 2 major debts a new truck and my mortgage.

1. For the $4000 household goods limit does this inculed the childrens belongings?
2. Can the bank kick me out of my home to sell it? (there is zero equity in my house)
3. For the clothing limit $4000 does this include my childrens' colthing also?
4. Can they search my place to value everything or do I provide the values?
5. Can there be a disagreement on the value of certain items or is it just replacement cost?

Lawyers fees can be included in the bankruptcy. The $4,000 value for your household furnishings and clothing is based on liquidation value and not replacement value. When you file the assignment into bankruptcy you swear an affidavit to confirm that the values and other information you have provided is correct. Trustees and the Court rely on the affidavit and generally don't physically come to your residence. As far as your house is concerned, as long as your mortgage doesn't go into arrears I see no reason why the bank would foreclose.

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