Legal Question in Bankruptcy in Illinois

is there any guarantees that if you file Chapter 7 Bankruptcy, that you can maintain homeownership?


Asked on 1/25/10, 11:59 am

2 Answers from Attorneys
Jonathan Shimberg Shimberg and Crohn, P.C.

No. If you in arrears in your mortgage, you really should consider a ch. 13.

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Answered on 1/30/10, 3:54 pm
Charles Dobra Charles Wm. Dobra, Ltd.

There is really not enough information to answer the question. The answer would involve how much the property is worth, whether you are in arrears, how much the property is worth, whether you are married to double the exemption. Do yourself a favor and speak to a bankruptcy lawyer at your earliest convenience. Many, like myself, offer a free consultation.

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Answered on 1/30/10, 4:17 pm


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