Legal Question in Bankruptcy in Georgia

Chapter 7 Home Ownership

Considering filing Chap 7-- Owe credit card debt of about 55k (bal plus interest) ; Additional info- own a home with fmv of 75.5K (according to tax assessors office) less mtg bal 27K (48.5 equity before repairs) less repairs ranging from 40k- 60k plus from 3 independent contractors.--

Much of the repair work is due to structural damage. (house needs to be jacked up according to contractors). Can I lose my home? Will a lien be filed against my home? What can/will creditors do involving my home? I have no income currently.


Asked on 1/31/08, 3:36 pm

1 Answer from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: Chapter 7 Home Ownership

There is not enough information in your post to determine what would happen to your home if you bankrupt. You may want to (if you're near Atlanta) fill in one of my bankruptcy worksheets and call for an appointment where I can review your information.

(Without a bankruptcy creditors can sue you and could levy against your home).

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Answered on 1/31/08, 4:53 pm


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