can i lose my home if i file bankruptcy in CA?
well my parents, they owe credit cards, and student loans up the heeezy! and we’ve been paying and paying we’ve had a good record for almost 14yrs of paying credit cards and house on time. but with how things are now the only solution is to file bankruptcy. can we lose the house though if we do ?
Posted June 21st, 2010 in When To File Bankruptcy. Tagged: bankruptcy, credit cards, parents, student loans.
The federally guaranteed student loans will not be discharged in bankruptcy. So, if those payments are what is breaking the budget, then bankruptcy won’t help much.
How much you get to keep depends on what version of bankruptcy you file (chapter 7 which wipes out some, but not all debts) or chapter 13 (which gives you breathing room to pay over a longer time).
Do a google search on "bankruptcy estate in CA" to see what kinds of things you get to keep if you file bkr.
But, definitely see an attorney if you decide to explore this option. There are lots of details that can derail you if you don’t know them. It’s not really a do it yourself option for anyone with assets.
June 21st, 2010 at 1:04 amDepends how good of a lawyer you have(they have).
June 21st, 2010 at 1:04 am