Chapter 7

Are these accurate statements?
Your Debt is Too Low ($17,000): A Trustee cannot legally sell a house to pocket $250,000 in equity if you only owe $17,000. Once your $17,000 in debt is covered, the rest of the money belongs to you and your co-owner.
• The Co-Owner Shield Costs Too Much: Because another person owns the house with you and lives in it, the Trustee would have to sue them in court to force a sale. Hiring lawyers to sue a co-owner over a minor $17,000
debt makes no financial sense. The legal fees would eat up any profit. ®
• The Buyout is a Hassle for Them: If your lawyer argued that you cannot afford a steep buyout, or if the co-owner refuses to pay it, the Trustee's only remaining choice is to drop the issue entirely and walk away.