Legal Question in Bankruptcy in California
My mother is 62 yrs old, divorced, & lives in San Diego County/CA. She owns a mobile home (worth approximately $50K) & a fully paid car (Blue Book approximately $13K). She works full time with income approximately $27000 per year. She also took out a $5,000 IRA withdrawal this year. She owns approximately $40K in credit card bills & unable to keep up with her payments. Would she qualify for Bankruptcy under Chapter 7?
2 Answers from Attorneys
Answering a question like this is much like asking a doctor to treat a patient without knowing the patient's full medical history. Penicillin might be a perfectly good treatment for an infection, but the doctor needs to know if the patient is allergic to it or not before treating the condition.
It sounds like your mom would pass the means test, but my first concern would be how much she owes on the mobile home. If she has a bunch of equity in it, she could lose it in a Chapter 7 bankruptcy.
My office is in El Cajon. If your mom would care to fill out my online questionnaire, I can give you a much better idea if any of her property would be at risk in a Chapter 7 bankruptcy.
Please be aware that the changes in the BK law may require her to make payments on her credit cards. Contact me directly.
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