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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2822
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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I live in Illinois and I am married. I own a home that has

Customer Question

I live in Illinois and I am married. I own a home that has more than 200,000. in equity I need to file a chapter 13 alone. Can I do that and still not touch my home or my husband?
Submitted: 9 months ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 9 months ago.

hi thanks for your question.

Expert:  Terry L. replied 9 months ago.

I am an Illinois Bankruptcy attorney.

The answer to both of your questions, is yes. You can file an individual chapter 13 to protect your home.

Expert:  Terry L. replied 9 months ago.

you will need to pay back enough of your debts in the chapter 13, to protect the equity. So you will have to pay back a good chunk of your debt, depending on exemptions you may have.

Your husband will not be affected. You will have to disclose his income, but you can offset it with his expenses in the bankruptcy schedules.

Expert:  Terry L. replied 9 months ago.

but other than that, your filing will have no impact on him, and it will not affect your home one bit.

do you have any other questions?