Legal Question in Bankruptcy in California

re: Bankrupcy

I have made alot of cash advances for my credit card including line of credit for home improvements and down payment from the car we both, now I'm having hard time paying my monthly. Can I file Chapter 7 and is there's any chance that it will be discharge?


Asked on 3/11/08, 12:09 am

1 Answer from Attorneys
Robert Mccoy Law Office Of Robert McCoy

Re: re: Bankrupcy

Secured debts cannot be discharged in a Chapter 7 bankruptcy. So, if you have a line of credit secured by your house, it cannot be discharged in chapter 7 bankruptcy. If, however you surrender the security (give up your home) the debt can then be discharged (assuming you meet other criteria). Also, there may be relief availble if you were to file a chapter 13 bankruptcy, but I would need more info to give you proper advice.

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Answered on 3/11/08, 2:24 am


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