Legal Question in Bankruptcy in California
I am over 65 and reside in CA, my spouse signed for a corporate AMEX for a friend that was later defaulted on and AMEX liened our property after obtaining a judgement, my spouse was killed recently, I am considering bankruptcy, is a Homestead Exemption valid if declared and filed after a Judgement lien on my property?
1 Answer from Attorneys
Depending upon the level of equity in your home, you may be able to avoid the judicial lien on your home, and discharge any potential liability for the original debt. You need to consult with a bankruptcy attorney in your area to determine what can and cannot be done. A lot more facts and figures are necessary to determine if you can qualify to avoid the lien. You also need to determine if bankruptcy is even necessary, as you may be judgment proof. Most bankruptcy attorneys will give you an hour consultation for free, which would allow you to at least preliminarily evaluate your options.
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