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What is the name of your state? va

I am married and want to file bankruptcy by myself. me and my wife are paying a mortgage on our home it was appraised at 94,000.00 the payf is $55,000.00. How will this equity affect me in bankruptcy? we have four children i am disabled on a disability pension. if she files bankruptcy she will endanger her job. but she is in debt also. can i just asked to be taken off the motgage note so it is in only her name?


Senior Member
I'd say you got some problems. You can't make property transfers and then file bk. The trustee will ask about transfers going back a year or more. Also, the mortgage company won't remove you unless your wife has the income and credit to service the mortgage herself.

So, you file and half the equity is yours. You need to know how much equity Virginia will allow you to exempt. I'd suggest a trip to the lawyer. Most give free initial consultations.

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