How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask cfortunato Your Own Question

cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
Type Your Bankruptcy Law Question Here...
cfortunato is online now
A new question is answered every 9 seconds

Im considering bankruptcy

Customer Question

I'm considering bankruptcy
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 4 years ago.

HI JACustomer,

What is your legal question, please? (What would you like to know?)

Customer: replied 4 years ago.
how do I find a free or low cost bankruptcy attorney and is bankruptcy my only alternative?
Expert:  cfortunato replied 4 years ago.
How many mortgages do you have? Are you current with the mortgage payments?
Customer: replied 4 years ago.
my regular mortgage and an equity line of credit, have been working with the bank on the modification of the first, the equity is current.
Expert:  cfortunato replied 4 years ago.

If you file a Chapter 13 Bankruptcy, you may be able to eliminate part of the second mortgage, but will still have to pay the first mortgage if you want to keep the house.

If you don't care about keeping the house, you can file a Chapter 7, which will eliminate the liability for most debts, including the mortgages, but you would not be able to keep the house if you don't pay the mortgages.

Customer: replied 4 years ago.

so with the chapter 7, as long as i pay my mortgages, I can eliminate most of the other debt and still keep my home. I just want to make sure I am understanding correctly.

I am also on my mothers bank accounts. would I have to be taken off of those so she's not affected? I have the deeds to 2 timeshares as well, what would happen to those?

Expert:  cfortunato replied 4 years ago.

Do you want to keep the timeshares?

Is there any equity (the difference between the market value and the balance on the mortgage) in the timeshares? If so, how much equity?

Customer: replied 4 years ago.
Yes, there is equity in the 2 that I own outright. I have a third I'm paying on, but don't care if I lose that one. Just having a hard time making the maintainence and taxes which come to about $2000 a year with all 3. About 1200 for the 2 I own. I would like to keep the ones I own or at least one of them.
Expert:  cfortunato replied 4 years ago.

Ironically, if you file a Bankruptcy (either Chapter 7 or 13), you would only be able to keep the timeshare with no equity, as the Bankruptcy Trustee would want to take the ones with equity and sell them to pay your creditors.

You would also be able to keep your house if you file a Bankruptcy - if you keep paying the mortgages.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK

Meet The Experts:

  • FiveStarLaw


    Satisfied Customers:

    Bankruptcy Lawyer. Experienced.
< Last | Next >
  • FiveStarLaw's Avatar



    Satisfied Customers:

    Bankruptcy Lawyer. Experienced.
  • Terry L.'s Avatar

    Terry L.


    Satisfied Customers:

    Better Business Bur 15yrs bankruptcy experience. Chicago Bar
  • cortrightlaw's Avatar



    Satisfied Customers:

    Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
  • dylatess's Avatar



    Satisfied Customers:

    37 plus years of experience specializing in bankruptcy law
  • JoeLawyer's Avatar



    Satisfied Customers:

    Attorney in the practice of Bankruptcy Law since 1996
  • Brent Blanchard's Avatar

    Brent Blanchard

    Bankruptcy Attorney

    Satisfied Customers:

    Twelve years experience in all aspects of debtor & creditor BK.
  • A.J.'s Avatar



    Satisfied Customers:

    Experienced consumer bankruptcy attorney.
Chat Now With A Bankruptcy Lawyer
3102 Satisfied Customers
Bankruptcy professor.