Legal Question in Bankruptcy in California

shared title on house and car regarding bankruptcy

My daughter and son-in-law put me on title for a house and car that I live in and drive. My credit cards are so high since my husband died I can't pay them. Can I file bankruptsy on the credit cards without being taken off the house title and the car title? I don't pay for the house or the car. I live on social security. Thankyou for any help you may give.


Asked on 10/02/00, 11:48 pm

3 Answers from Attorneys
Peter De Bruyn Law Offices Of Peter De Bruyn

Re: shared title on house and car regarding bankruptcy

you can file a chapter 7 bankruptcy and schedule all the property you are on title, as well as your credit card debt. since you did'nt pay for the house or car, the trustee will probably conclude that your estate has no equity in that property. in addition, ccp 704.offers a homestead exemption up to $100,000.

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Answered on 10/31/00, 9:56 am
Mark Markus Law Office of Mark J. Markus

Re: shared title on house and car regarding bankruptcy

You can file bankruptcy and it will not take you off title to those assets. The real issue is whether or not there is non-exempt equity in those assets which a Trustee could get in a bankruptcy, and I cannot answer that question without knowing all the specific numbers involved. If you would like a free consultation, please visit my web page and give me a call.

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Answered on 10/31/00, 12:25 pm
Keith Knochel Law Offices of Keith Knochel

Re: shared title on house and car regarding bankruptcy

The equity in the properties would determine the potential for keeping the properties through a chapter 7 bankruptcy. You can contact our office for a consultation at (800)677-1010 for specific advise.

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Answered on 11/01/00, 12:24 pm


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