Legal Question in Bankruptcy in Oregon
bankruptcy
When you file Chapter 13 do you have to give up your home that is owner occupied? We owe what is worth on the home so there is not any value in it but we run a small business that we may have to file bankruptcy on but did not want to lose the house if possible. All the business debt is tied to our personal names, it is not seperated by a corp.
Asked on 3/09/09, 4:09 pm
1 Answer from Attorneys
Lillian Suelzle Watson
Gresham Family & Bankruptcy Law
Re: bankruptcy
You may be able to keep you home in ether a Chapter 13 or a Chapter 7. You will need to prepare a budget showing that you can make the payments on your home and satisfy the Chapter 13 plan. You should speak with a bankruptcy attorney as it depends on your assets as well as your total liabilities.
Answered on 3/09/09, 5:28 pm
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