QUESTION

I am filing Chapter 7 and I own a house. I heard that when they sell my house I should get back some money from it. Is this true?

Asked on Mar 08th, 2007 on Bankruptcy - Tennessee
More details to this question:
I am filing Chapter 7 and I own a house. I heard that when they sell my house I should get back some money from it. Is this true?
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1 ANSWER

There are too many different variables to answer that question as it currently is asked.  It depends on numerous factual issues.  Issues such as: the amount of equity in the home, if the bankruptcy is a joint filing, and the amount owed on the home are all factors to be considered.   You should consult a local bankruptcy attorney.  Most bankruptcy attorneys offer a free initial consultations to determine if bankruptcy is appropriate for each client. 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 18th, 2012 at 4:40 PM

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