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 dylatess Your Own Question
dylatess, Attorney
Category: Bankruptcy Law
Satisfied Customers: 5142
Experience:  37 plus years of experience specializing in bankruptcy law
Type Your Bankruptcy Law Question Here...
dylatess is online now
A new question is answered every 9 seconds

I am renting my house out and staying with someone rent free

Customer Question

I am renting my house out and staying with someone rent free (financial troubles). Can I file for bankruptcy in CT?
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  dylatess replied 4 years ago.
Over 33 years, I have assisted my clients with debt problems having filed more than 32000 Chapter 7 and Chapter 13 Bankruptcy petitions. That depends. If there is equity in your rental of more than $18000, you cannot claim that excess equity exempt and file bk. likewise, if the property has little lor no equity, you can file. So check with a realtor and then make an appointment with a bk attorney.

Best regards XXXXX XXXXX am glad  to help.  Please be so kind as to click the GREEN accept button as I do not get paid for my assistance unless you accept.   A bonus and and positive feedback are also appreciated.  An ACCEPT also assures that I can assist you again.  I wish you the best in the future.  Thanks.
dylatess and 2 other Bankruptcy Law Specialists are ready to help you
Customer: replied 4 years ago.
so, after paying leans (mortgage + loc), the equity cannot exceed $18,000? (Just clarifying)

Do you practice in CT? I need an atty.
Expert:  dylatess replied 4 years ago.
That is correct. And you can also deduct a seven percent commission. In other words, what would you net if the house sold. For a referral, go to as this site does not permit direct contact.