Legal Question in Bankruptcy in Maryland
bankrupcy chapter 7
Hello i like to know if the creditors can go after my properties in my country if i file chapter 7
thanks
Efrain
Asked on 10/24/07, 8:20 pm
1 Answer from Attorneys
Richard S. Stolker
Uptown Law, LLC
Re: bankrupcy chapter 7
If you file for bankruptcy under Chapter 7, the bankruptcy trustee can attach and sell your property for the benefit of creditors, even if the property is in another country. However, depending on the circumstances, the trustee might determine that the expense and difficulty of selling property in another country is not worth it. It will depend on how much value there is in the property and how difficult it would be for the property to be sold and the proceeds converted to US currency.
Answered on 10/25/07, 7:40 am
Related Questions & Answers
-
Chapter 7 I have a home i owe 40k more than its worth on, a boat that i owe 30k more... Asked 10/11/07, 12:45 pm in United States Maryland Bankruptcy Law
-
Bankruptcy what is the difference between chapter 7 & 13 Asked 10/05/07, 1:39 pm in United States Maryland Bankruptcy Law
-
Bankruptcy divorce if you are married and separated can one party file for... Asked 9/30/07, 1:24 am in United States Maryland Bankruptcy Law
-
Chp. 7 Dismissal How long do I have to wait before filing chp 7 again after a... Asked 9/26/07, 10:32 am in United States Maryland Bankruptcy Law