Legal Question in Bankruptcy in Pennsylvania

Can I keep my house if I file bankruptcy

I am drowning in credit card debt. I am current, but only because I continue borrowing to pay them. I can cotinue paying my mortgage payments but cannot continue the credit card payments. I go further into debt each month. Total credit card debt is approx. eighty thousand.Is it possible to declare bankruptcy and still keep your home? Please advise,I am losing sleep.


Asked on 2/24/01, 11:09 am

2 Answers from Attorneys
Stanley Fudor Law Offices of Stanley Fudor

Re: Can I keep my house if I file bankruptcy

There is a very good possibility that you may keep your house and still decalre Chapter 7 bankruptcy. An analysis of the type of debt and the amounts would be necessary. Contact an attorney who will do this for you.

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Answered on 4/20/01, 10:16 pm

Re: Can I keep my house if I file bankruptcy

Chapter 7 (liquidation) bankruptcy may be appropriate for you. In general, a debtor can keep secured property (property such as a house subject to a mortgage or car subject to a loan) as well as some unsecured property (the Bankruptcy Code contains a list of categories and dollar amounts).

This is general information for discussion purposes and not legal advice. You should consult with an experienced bankruptcy attorney to discuss your individual situation. Please feel free to contact me.

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Answered on 4/20/01, 9:30 am


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