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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2815
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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Can you file bankruptcy on your credit cards without risking

Resolved Question:

Can you file bankruptcy on your credit cards without risking your house and vehicles?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 7 years ago.
Hi Xander,
You can discharge those debts while keeping the house and car.
You would sign a reaffirmation aggreement to allow the mortgage and car note to survive bankruptcy. You can then keep these assets, and have to continue your monthly payments. You need to watch if you have equity in the home. Each state can protect a percentage of the equity in your home and car. YOu should talk to a local bankruptcy attorney to help review your assets and provide further advice on a chapter 7.
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