Legal Question in Bankruptcy in California

I want to file for bankruptcy but I own a house in another state which is fully paid off. Can I still file for chapter 7


Asked on 4/23/11, 9:26 pm

1 Answer from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

The bankruptcy trustee will be more than happy to auction off your house to pay your creditors. Depending on the laws of the other state, and other possible factors such as whether it qualifies as your primary residence, your house could possibly fall under a homestead exemption. Don't even think about filing for bankruptcy without consulting an attorney. Have you considered taking out a mortgage?

Read more
Answered on 4/23/11, 10:29 pm


Related Questions & Answers

More Bankruptcy Law questions and answers in California