Recently Asked Questions
Q: Can I file chapter 7 and retain my home and car? What happen if i short sale the property, and I have second lien? Is the second can be wipe out by chapter 7?
A: Yes, it is possible to keep your home and your car in a chapter 7 bankruptcy. There are certain property and asset exceptions in a chapter 7 bankruptcy depending on your financial situation and the state in which you will file.In a Chapter 7 bankruptcy all of your property becomes property of the debtor at the time of filing. The property trustee is in charge of taking control of all your property in order to satisfy the debt with your creditors. For further information about keeping your personal property and assets please call us to be connected with a Chapter 7 Bankruptcy Attorney that can evaluate your case.
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Posted By jess
Jun 7th, 2010 06:04:18 PM |
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Legal Disclaimer - The answers given on this website are for general information & reference purposes only, and are not to be considered legal advice nor do they substitute as advice of an attorney.
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