Legal Question in Bankruptcy in Louisiana

chapter 7

i am deliquent on my mortgage and i have filed a chapter 7 which has not been confirmed yet. my mortgage company says that i can work it out with them and i want to know if the court will seize my house to pay off my debt?


Asked on 9/13/07, 3:59 pm

1 Answer from Attorneys
Carolyn Patrick Law Office of Carolyn Patrick

Re: chapter 7

In Louisiana debtors have a $25,000 homestead exemption. This means that as long as you do not have more than $25,000 in equity in your house, the trustee in a chapter 7 filing will not seize your house. I note that you state that your chapter 7 has not yet been "confirmed." I am not certain what you mean because chapter 7 cases are not confirmed. The term "confirmation" applies only to chapter 13 cases. I hope you have an attorney because he/she can answer your questions regarding what will happen to your assets in a chapter 7 bankruptcy filing. Your attorney can also help you navigate the intricacies of bankruptcy. Good luck.

Carolyn Patrick

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Answered on 9/13/07, 5:49 pm


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