Legal Question in Bankruptcy in Florida

What can I lose or keep in a chpter 7 bankruptcy?

1) Can I lose my home even if I'm able to pay the mortgage?

2) Can a second mortgage be discharged?

3)Will I lose my furniture,personal computers,home stereo or musical equipment which I use as a daily part of my life? &

are these considered assets that should be listed?

4)Will I or my wife lose our cars & be left on foot or can we keep the car we can afford to pay & discharge the other?

We don't have much & are afraid we can lose the little that we have.

Please Help. Thanks


Asked on 9/30/02, 7:42 pm

1 Answer from Attorneys
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: What can I lose or keep in a chpter 7 bankruptcy?

You will be able to keep all exempt assets and ,dependeing upon the equity you have, secured debt property if you re-affirm the debt. You should make an appointment wil a competent attorney so you can properly review your situation and then determine the best course to follow. Call 305-940-8080.

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Answered on 9/30/02, 9:34 pm


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