Legal Question in Bankruptcy in California

bankruptcy question

I'm in a mess financially and wonder if I file bankruptcy if I will lose my house. I owe $21,000 in credit cards, am thinking about refinancing but my payments will break me. If I have to refinance I will but if bankruptcy is my only option I might have to do that, but don't want to lose my house.


Asked on 1/16/03, 12:53 am

2 Answers from Attorneys
Chris Johnson Christopher B. Johnson, Attorney at Law

Re: bankruptcy question

The answer depends on the amount of your assets, including home equity--there are exemptions available for many assets. Consult with a bankruptcy attorney, reviewing your assets specifically, to see whether bankruptcy would be beneficial.

Read more
Answered on 1/16/03, 11:24 am
Mark Markus Law Office of Mark J. Markus

Re: bankruptcy question

There's no way to answer your question without first doing an analysis of all your assets, their values, and corresponding debts. Whether you can keep assets in a bankruptcy depends on the value of your assets, what exemptions are available, what chapter you are filing under, and other considerations. If you would like a free phone consultation, please visit my webpage at http://www.bklaw.com/consult.html for what information you will need and then give me a call or e-mail to schedule a time. I will be happy to assist.

Regards,

Mark

Read more
Answered on 1/16/03, 12:57 am


Related Questions & Answers

More Bankruptcy Law questions and answers in California