QUESTION
Can i file for Bankruptcy if I own nothing but a burial plot?
Asked on Jul 12th, 2014 on Bankruptcy - North Carolina
More details to this question:
I am 68 in poor health living with my daughter and her family. I live on social security. I stopped making payments on my credit card debt. I am receiving threatening letters if I do not set up a payment plan. I do not want to go to jail and I cannot ask my daughter for financial help. I also have a lot due on medical bills.
1 ANSWER
Bankruptcy Attorney serving Burbank, CA
Partner at
Law Office of Mark J. Markus
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3 Awards
Yes, you can file bankruptcy. You are not limited to filing bankruptcy by the assets you own. The issues is whether you have sufficient exemptions to protect the assets you have that you want to keep. That is governed by state or federal law depending on where you have lived for the 2 years prior to filing your bankruptcy case.
The only way to determine if bankruptcy is a good option for you is to have a consultation with a bankruptcy attorney in your area.
Answered on Jul 13th, 2014 at 12:19 AM