Legal Question in Bankruptcy in California

Will we have a problem filing Chapter 7..

if we are making the payments on both houses that we own? One being a rental. It is all of the unsecured debt from a previous business that is forcing us into BK...we have an appt with attorney 7/6 but just trying to see what to expect.


Asked on 7/05/07, 11:08 am

2 Answers from Attorneys
Amy Ghosh Law Offices of Amy Ghosh

Re: Will we have a problem filing Chapter 7..

Chances are if you have equity in the houses...trustee will sell your houses.

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Answered on 7/05/07, 11:35 am
Robert F. Cohen Law Office of Robert F. Cohen

Re: Will we have a problem filing Chapter 7..

I might disagree with Ms. Ghosh if you're living in one of the houses. It depends on how much equity you have in that property. On the other hand, if there's equity in the rental property and you're filing a Chapter 7, you might lose it.

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Answered on 7/05/07, 12:39 pm


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