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Can I file chapter 7 after quitclaiming property ownership?

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antiquelover48 Joined: 14 Apr 2009 Posts: 2 2.32 Dollars($)	Posted: Tue Apr 14, 2009 3:02 pm    Post subject: Can I file chapter 7 after quitclaiming property ownership? Like 0 Dislike 0 Hi. This is my first posting. I have been separated fr. my husband since June last year. I took 1/2 bills (credit cards in my name) and he kept ones in his name. I cannot afford to pay them and am several months late. I didn't want him and my 20 year old daughter to have to find another place to live, so our separation agreement has where he now owns the house. (I also gave up most everything --furniture, accessories, etc. )My ? is, I want to file bankruptcy since I am earning below poverty level and cannot make the payments, and barely my rent/expenses. I heard that since we did a quick claim deed to give up my ownership of the house, that I cannot file a chap.7 since that could be considered fraudulent, although I gave up all equity in the house--(out of guilt--since I was the one who left). Does anyone know if this is true? Thank you very much for your time!Grace
smithsussane Joined: 18 Sep 2008 Posts: 10030 Location: Alaska 919.49 Dollars($)	Posted: Tue Apr 14, 2009 7:35 pm    Post subject: Like 0 Dislike 0 Hi antiquelover! Welcome to forums! If you file Chapter 7 now, then the transfer of the property will be considered as a fraudulent one. You will be able to file bankruptcy after one year has passed since you transferred the property. I would suggest you to wait till June, 2009 and then file bankruptcy. By the way, if you don't mind, why are you filing bankruptcy? There are various ways to avoid filing bankruptcy. Check them out in the given link: http://www.mortgagefit.com/bankruptcy/avoid-bankruptcy.html Feel free to ask if you have further queries. Sussane
antiquelover48 Joined: 14 Apr 2009 Posts: 2 2.32 Dollars($)	Posted: Wed Apr 15, 2009 5:43 am    Post subject: Like 0 Dislike 0 Thank you Sussane, I am filing for bankruptcy because, even after I went to a credit councelor (sp?) to consolidate my debts, the total of what they came up with after negotiating w/ creditors far exceeded my income. But I will check out the link you provided to see if their are any other options. Thanks so much for your reply. Grace
smithsussane Joined: 18 Sep 2008 Posts: 10030 Location: Alaska 919.49 Dollars($)	Posted: Wed Apr 15, 2009 9:46 pm    Post subject: Like 0 Dislike 0 You are most welcome Grace If you have further queries regarding mortgage or other financial issues, do post in the forum. The members/experts participating here will help you with their opinion.
Lulu Guest	Posted: Wed May 06, 2009 4:57 pm    Post subject: Bankruptcy Like 0 Dislike 0 my husband and i are separated now for a year. he does not reside in our home which i occupy with our 3 children and the house is in his name only. Im on the deed. He is considering filing bankruptcy. Will I have to move out with my children if he does this?
jameshogg Joined: 20 Dec 2005 Posts: 10148 Location: Nevada 941.94 Dollars($)	Posted: Wed May 06, 2009 9:09 pm    Post subject: Like 0 Dislike 0 Your query has been replied in the given link: http://www.mortgagefit.com/bankruptcy/moveout-property.html Please take a look. I hope it'll help you.
andrea Guest	Posted: Mon Jun 01, 2009 9:07 pm    Post subject: bankrupcy Like 0 Dislike 0 my estranged husband is filling for bankrupcy he left me 2 years ago how willthis affect my property it has allways been in my sole name
adonis Joined: 22 Oct 2005 Posts: 10242 Location: ALASKA 1042.50 Dollars($)	Posted: Wed Jun 03, 2009 12:09 am    Post subject: Like 0 Dislike 0 If the property and mortgage is in your name solely, then your estranged husband's filing bankruptcy won't effect you. _________________ Procrastination is the enemy of your financial success
Marcia Guest	Posted: Tue Mar 23, 2010 8:03 am    Post subject: Bankruptcy and divorce Like 0 Dislike 0 I am in the process of divorce. My husband jsut filed for bankruptcy and that placed a stay on our divorce. He will not tell me what type of bankruptcy he ahs filed and if he has placed the house in the bankrupcy proceedings. I am making the house payments and do not wantto move out. I have two children and would like to keep the house. This is in Michigan. What can I do to findout what type of bankruptcy he filed and if the house is included? Will I have to move out? What can I do to keep my home?
smithsussane Joined: 18 Sep 2008 Posts: 10030 Location: Alaska 919.49 Dollars($)	Posted: Tue Mar 23, 2010 11:21 pm    Post subject: Like 0 Dislike 0 Hi Marcia! Welcome to forums! You can contact your husband's bankruptcy attorney and check out if he would be ready to help you in this regard. Your attorney can also negotiate with his attorney and get to know the chapter he has filed for. If the property is sold off to pay his creditors, then you'll have to move out of the property. However, as you're one of the owners of the property, you would get your share from the sale proceeds. Feel free to ask if you've further queries. Sussane
rita2 Joined: 23 Apr 2010 Posts: 286 51.03 Dollars($)	Posted: Fri Apr 30, 2010 3:33 pm    Post subject: Like 0 Dislike 0 Hi Marcia! You need to consult an attorney who can find out what bankruptcy your husband filed. Firstly, as your husband did not consult with you before filing bankruptcy, and if he files chapter 7 then your house will also go, it again depends on the equity of the property.If the equity is equal then you can take step against him. And if the property is sold then you too have share in it. The best person to give you detailed information will be a good attorney.

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