QUESTION

when you file bankruptsy if you have a equity line does it take it away

Asked on Nov 08th, 2013 on Bankruptcy - Florida
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Bankruptcy Attorney serving Burbank, CA
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Bankruptcy will discharge the underlying debt you owe, but the lien against your property would remain unless you are able to avoid it (remove) in a Chapter 13 or Chapter 11 case.  You can avoid voluntary liens if the value of the property is less than the amount of any senior liens against the property.  
Answered on Nov 11th, 2013 at 3:29 PM

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