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Alger Bankruptcy Services


Same team, new name

Alger & Associates personal bankruptcy services are
now provided by
Grant Thornton Alger Inc.

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Edmonton, Calgary bankruptcy Q&A forum

Author:

 

Question:

 

A roommate and I bought a house together a few years ago. Both our names were on the mortgage. The house is now foreclosed and we owe a substantial amount of money on it. I am thinking of declaring bankruptcy to get out of this debt. However, I have been told that the other person on the mortgage debt could then sue me for the value of the foreclosure debt making my bankruptcy pointless. Because of this I have been advised to include this person as a potential creditor in the bankruptcy even though I technically owe them no money at the moment. Does this make sense? What is your advice?



From:

 

Alger & Associates Inc.

Date:

 

Sep 16, 2013

Answer:

 

Hello Once you file Bankruptcy proceedings, your creditors including your former roommate who has a contingent claim, cannot continue any collection action against you. The mortgage deficiency and the contingent claim may be discharged by bankruptcy. Your former roommate should be listed as a creditor so he or she has notice of your bankruptcy. Please call me to set up a consultation to review your current situation. Thanks for the question.

Marie Kozlowski
T 403-296-3082
Marie.Kozlowski@ca.gt.com

 

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