QUESTION
If we file chapter 7 can we keep our house and cars?
Asked on Sep 06th, 2012 on Bankruptcy - Texas
More details to this question:
We have 3 cars, two are financed one was given to us. Our home is on 24 acres that is financed with our home. One acrea is paid for, it is land locked by our land.
1 ANSWER
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There are too many different variables to answer what assets will be liquidated in a chapter 7 bankruptcy.
You should consult a local bankruptcy attorney. Most bankruptcy attorneys offer a free initial consultations to determine if you qualify for bankruptcy, and to determine if bankruptcy is appropriate.
This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.
Answered on Oct 05th, 2012 at 4:36 PM