In many personal bankruptcy cases you can keep your primary residence. Learn more at: What is Bankruptcy.
If you feel you need to make an immediate decision about bankruptcy, because you are having trouble (or have stopped) making the mortgage payments on your home, please contact us or another bankruptcy attorney right away to discuss your options before you make your final choice.
Does my house being in foreclosure affect my ability to file?
Filing for bankruptcy may delay (Chapter 7) or prevent (Chapter 13) you from losing your primary residence to foreclosure. If you are at a point where you need more information about the affect foreclosure might have on your ability to file for bankruptcy, you probably should contact us right away. We can help you.
What if I own other real estate property?
Real estate property other than your primary residence may not be considered as exemptions in a personal bankruptcy case, but every case is different, so your situation would need to be looked at in more detail.
For a free consultation about your circumstances, please contact us.
Can I transfer ownership of property prior to filing for bankruptcy?
Transferring ownership of property immediately prior to filing for bankruptcy will cause you serious problems, so do not do it. Learn more: Abuse of Bankruptcy Process.
If you are considering transferring property and then declaring bankruptcy before at least a full year has passed, please contact us or another bankruptcy attorney first.
Does applying for a loan modification affect my ability to file?
Filing for bankruptcy after you have applied for a loan modification may jeopardize your application.
Applying for a loan modification after you have filed for bankruptcy can be a very complex process that includes notifying the court, so it should only be done after consultation with your bankruptcy attorney.
For immediate assistance, please contact us.
Can I keep my IRA account?
In many cases, qualified IRA accounts are considered as exemptions in a personal bankruptcy. Some IRA accounts may not qualify, so your situation may need to be looked at in more detail.
For a free consultation about your circumstances, please contact us.
Can I keep my tax refund?
Being able to keep your tax refund during bankruptcy will depend on a few circumstances, so be sure to have your situation properly evaluated by your bankruptcy attorney before you cash a tax refund check from the U.S. Treasury.
For immediate assistance, please contact us.
Can I keep my car or truck?
Yes, there are several different chapters of bankruptcy and we will make sure that you are able to keep your vehicle whether you are current on payments, whether you are behind on payments, or even if you own it outright.
A vehicle is necessary for your “fresh start” and both courts and creditors agree that you will be allowed to keep it.
Related articles: Creditors