Legal Question in Bankruptcy in Illinois

Home and Automobile

I would like to know if my sister files bankruptcy, and her house and truck are paid for, free and clear, would she have to sell either of them to satisfy her debts, she has several credit cards and hospital bills incurred by her husband over the last 5 or 6 years he is gravely Ill, and if he should die, of course his s.security will stop and she is scared that she won't be able to make all the payments that are required of her, her biggest concen is that they will take her house and truck, and she will not have anywhere to live or no means of transportation back and forth to work?

Thank you for all your help in this matter, she knows that she will have to contact an Attorney here in Illinois,she just thought that you could give her some insite, as to what might happen. She is current on all her bills, but doesn't know how she will live if her husband die's with in a few months.

Thank you ever so much.


Asked on 8/12/99, 9:26 am

1 Answer from Attorneys
Charles Dobra Charles Wm. Dobra, Ltd.

Re: Home and Automobile

It is extremely difficult to answer your question with any precision as it depends so much on the value of the assets, and the equity in the real property. As a technical matter, when you file a petition, all the property of the estate is "given over" to the US Trustee by operaton of law. Therefore, if anything would be sold, the Trustee would do it. I can't advise you too much to consult a bankruptcy lawyer as soon as possible so you can plan ahead to avoid difficulties in the future.

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Answered on 8/17/99, 1:56 pm


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