Legal Question in Bankruptcy in California

The federal bankruptcy judge is going to rule next week that our home is to be sold to pay our credit card debt. We have fought long and hard to save our home but we own it free and clear.

We qualify for $175,000 for our homestead. How long will the judge give us to find another home? Will we be kicked out immediately? Do we have to reinvest the whole dollar amount in a new home? How long do we have to do that? Can we move out of state? We cannot afford a house in San Diego where we have lived for forty years.

Thanks!


Asked on 4/30/14, 8:57 am

1 Answer from Attorneys
Charles Andersen Charles Andersen, Atty

You've posed too many questions and not enough information. Didn't your attorney tell you in advance that your house would be sold if you filed Chapter 7?

If you want to keep your house, I would suggest that you convert to chapter 13 and take it out of the hands of the chapter 7 trustee. http://www.absolutebankruptcy.org

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Answered on 4/30/14, 10:02 am


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