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cortrightlaw
cortrightlaw, Attorney
Category: Bankruptcy Law
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Experience:  Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
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I have a civil judgement against me for $60,000. I put my house

Resolved Question:

I have a civil judgement against me for $60,000. I put my house up for sale. I have lots of equity in the property. Is there anyway that the company that has a judgment against me will know that I am selling this property? In other words is there any risk that they will get my equity when I close?
If I were to file for Chapter 7 bankruptcy 6 months after selling the house, and I spent the equity from the house, then would I have to report coming into that money and would the bankruptcy judge expect me to come up with that money for my creditors?
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  cortrightlaw replied 2 years ago.

cortrightlaw : Usually when a person gets a judgment they record it with the county and them when you sell your home they check county records and the judgment must be satisfied by the sale of the home or the sale will not be able to go through. So the answer is yes your equity is at risk. You have a complicate financial issue you are trying to deal with, you need to go meet with a bankruptcy attorney and discuss your complete financial situation before you go any further with the sale of your home. You might have more protections owning your home and filing bankruptcy first.
Customer:

and the other question?

Customer:

by the way thank you

cortrightlaw : Yes you would have to report the sale of the house, the proceeds you received and if spent the trustee would want to know where it was spent.
cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience: Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
cortrightlaw and 2 other Bankruptcy Law Specialists are ready to help you

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cortrightlaw
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Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.