Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.
I am 80 years old. My bankruptcy atty. states that the referee can make her sell her home to pay off my debts, she has $300,000 equity (She has owned it for 15 years) We have seperate bank accounts (her two sons are on her account). She is 67 years old, nets $1571 a month from Soc. Sec and pays a $971 mortgage pymt and has other bills and insurance pmts. I have not used her credit cards nor have I used mine. Last time I used my cards was before we were married. She loaned me money serveral years ago when I fell on bad times. To repay the loan I pay, when I can, her $400.00 a month.
Those are the main factsand my atty. said we can file to due funds in and funds out.
I saw another atty. and he said thaat under the reules my wifes hous can be taken away because it has apprx. $200,000 net value. The funds would be used to satisfy my creitors
So it appears that inCalif. they can leave he without her home
My atty states wants me to sign a docuent that I uhderstand that if I go forward with the Chap 7, the trustee can orce my wife to sell to pay my debts. He also states that I can not back out once I file and am in front of the trustee and his judement is that the house will be sold
I like your credentials and thankyou for your uplifting answers. Your answer to his would be appreciated.