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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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Im thinking about filing bankruptcy on two vehicles and one

Customer Question

I'm thinking about filing bankruptcy on two vehicles and one charge account. I'm gonna re-afirm my house though, is there anything i should be worried about?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 5 years ago.

WebLaw :

Hello,

So sorry to hear of this dilemma. If my answer is not clear to you, please ask me for clarification by using the reply button.

WebLaw :

How much equity do you have in your house?

JACUSTOMER-5henxpsn- :

none

WebLaw :

Hello,

You may want to consider a chapter 7 bankruptcy. I will explain.


A Chapter 7 bankruptcy could discharge (erase) all of your unsecured debt such as credit cards, judgments and personal loans. It would be an opportunity for a fresh financial start. However, you may have to surrender assets, if any, that exceed your exemption.


Here are the exemptions for MS:
http://www.bankruptcyinformation.com/MS_exemp.htm