Legal Question in Bankruptcy in Ohio

will I lose my house and car

I would like to know if I will lose my house and car. Those are the only assets I have. I am now pay a counseling service to pay my creditors but I am struggling to pay that. I have been using the couseling service almost 1 year now and when the plan is over with, I will still owe the creditors. I am retired on disability income from heart problems.


Asked on 6/23/02, 3:47 pm

2 Answers from Attorneys
Frank Rozanc Frank J. Rozanc, Esq.

Re: will I lose my house and car

You can always reaffirm the debts for your house and car, although if you have too much equity, those assets may have to be sold to free up funds for creditors.

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Answered on 6/23/02, 5:21 pm
Steve Chaffin Steven E. Chaffin, Attorney

Re: will I lose my house and car

If you do not pay for those debts you will lose them. If they are included with the counseling service payment plan you will need to ask the service if they are current. However, considering you are on disability, you should stop the payments to the counseling service and seek a bankruptcy. You can reaffirm on your house and car (payments current) and not owe any other debts after bankruptcy.

Steve

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Answered on 6/23/02, 8:14 pm


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