Currently I am in debt of $70k to various creditors. I am thinking of declaring bankruptcy as this is my only option.
My wife and I have a house. The deed of title is under her name and the property was purchased by my wife a year prior to us getting married. The property is being used as in property investment and all rent money go into her bank account. We do not have a joint bank account either.
What I want to know is if I declare bankruptcy, are we likely to lose our home as well? Considering that my name is not on the deed nor do I have the mortgage with the bank.
Thank you
My wife and I have a house. The deed of title is under her name and the property was purchased by my wife a year prior to us getting married. The property is being used as in property investment and all rent money go into her bank account. We do not have a joint bank account either.
What I want to know is if I declare bankruptcy, are we likely to lose our home as well? Considering that my name is not on the deed nor do I have the mortgage with the bank.
Thank you