I’ve been paying a debt releif company for about 10 months (Morgen Drexen) I received a summons from AMEX and they are going to sue me for about 4500. My plan is to cancel the debt consolidation and to file bankruptcy, but have a few questions.
I own my house and I’m current on all payments. I have about 14,000 in personal and medical debt. If I file for bankruptcy do I have to include my house? I don’t want to include it but can the creditors take my home during a bankruptcy. I’m also seperated and the house is in both of our names, my ex has past debt also that he hasn’t paid on. What is the best way to keep my home, file for bankruptcy and make sure no one can take my house because my ex’s debt?
I have no idea where you live, so I have no idea what the homestead exemption is for your state.
Is there any equity in the house? If there is no equity, there is nothing for the bankruptcy trustee or creditors to take. If they cannot sell the home for enough to pay off the mortgage and all costs of sale, then no one will bother to try to take the home.
And all of this is presuming that there is no homestead exemption to apply in your case – which almost all states have at least some amount of homestead protection.
You need to consult with a bankruptcy attorney in your state.
My name is Lewis Roberts and I’m an attorney licensed in Florida and Georgia. My practice focus is consumer bankruptcy, real estate issues/closings, and mortgages. I also have Florida real estate broker and mortgage broker licenses. I am a proud member of the National Association of Consumer Bankruptcy Attorneys (NACBA), National Association of Consumer Attorneys (NACA), and a graduate of Max Gardner’s Bankruptcy Boot Camp. I enjoy helping people with decisions that impact their financial well-being.
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