QUESTION
What type of bankruptcy or other legal action might be best for my situation?
Asked on Feb 26th, 2013 on Bankruptcy - Texas
More details to this question:
I live in Texas but own a duplex in New Orleans that was destroyed in Katrina. The duplex was rebuilt using an SBA loan and funds from "The Road Home". It worked well for a year but has turned into an "alligator". This could work but the gov refuses to pay me for the damages to the property ($117,000 in equity) and charges interest on a loan made to me for damages for which they are responsible.
1 ANSWER
Generally which bankruptcy depends on your overall situation. However, most people in this situation want to file a chapter 7 bankruptcy. However, without a understanding of your over all situation it is impossible to give good advice. You really need to visit with a bankruptcy attorney in your area. If you provide me information on where you live, I can try to recommend someone.
David @dlplegal.com
Answered on Mar 04th, 2013 at 3:55 PM