Legal Question in Bankruptcy in Ohio

Bankruptsy for someone not able to work

My father-in-law recently had major heart surgery, and due to his health cannot work. He has many bills that he cannot pay back in a reasonable amount of time, and is considering bankruptsy. He has nowhere to live, but has the opportunity to purchase a cheap mobile home. Should he make the purchase, then file for bankruptsy, or file for bankruptsy then make the purchase? Or is bankruptsy not advisable? Thank you for your help.


Asked on 9/06/01, 11:27 am

1 Answer from Attorneys
David Weilbacher, Esq. Attorney at Law

Re: Bankruptsy for someone not able to work

If he were to purchase the mble home he could protect up to $5000 in equity in the property. So to answer your question, if he were to buy the property prior to filing backrutcy, and he didn't pay more than $5000 down for property, he would not lose the property.

216.241.2500 phone, 216.241.2294 direct line, 216.241.2286 fax

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Answered on 10/26/01, 12:55 pm


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