Legal Question in Bankruptcy in California

Re: About my car and house

Generally, people who file a Chapter 7 bankruptcy (liquidation) are able to keep their house and car. There are many ifs, though. It depends how much equity you have in your house (amount worth minus amount owed), and whether your car payments are current or could be brought current fairly soon. Please give me a call on Saturday early PM if you have any questions. (310) 858-9771. Thanks. -Robert

Re: About my car and house

There is no way to answer your question without knowing the value of all your assets, and the amounts of any liens or encumbrances securing them. If you desire representation and would like a free phone consultation, please visit my webpage at http://www.bklaw.com/consult.html and then contact me to schedule an appointment. I will be happy to answer all your questions.

Re: About my car and house

You will be doing chapter 7...and would be able to keep your house and car..if the payments are current. If your equity in the house is within the exempted amount...creditor'e would not be able to touch that equity.

Re: About my car and house

The answer depends on the amount of equity in your house and car--generally, you can keep them in a Chapter 7 bankruptcy by keeping the payments current and if the equity is at or less than the state exemptions allow.