Legal Question in Bankruptcy in Texas

Chapter 7 --Can I keep my home without payments?

I have a few questions. I would like to file chapter 7, I was under the impression that you are allowed to keep your residence in Texas when filing chapter 7. I am current on payments, but am a full-time student and no longer working. I have credit card debt. If I file chapter 7, can I include my home and If so, will the debt be considered wiped out, or will I have to make some kind of payment? and will I still get to live in my house???

Thanks for your help.


Asked on 12/26/01, 5:28 pm

2 Answers from Attorneys
Cole Fulks Cole Fulks, P.C.

Re: Chapter 7 --Can I keep my home without payments?

You can file Chapter 7 and keep your house, but if you are behind in your house payments, you will not be protected from foreclosure by the noteholder. If you are filing in the Dallas/Fort Worth area, feel free to contact me.

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Answered on 12/26/01, 5:49 pm
Lawrence Maun Lawrence J. Maun, P.C.

Re: Chapter 7 --Can I keep my home without payments?

You have a choice in Chap 7. Normally you will be discharged from the obligation on your house note. If you do nothing, the lender will foreclose and take your house. If you want to keep your house you will have to reaffirm your debt to the lender and continue payments. If you are behind on your payments try to negotiate with the lender before you file to make up the payments. Alternatively, file a Chap. 13 and make up the payments in a Chap 13 plan. Larry Maun 713.266.2560

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Answered on 12/31/01, 10:24 am


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