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Ask WALLSTREETESQ Your Own Question
Category: Bankruptcy Law
Satisfied Customers: 17252
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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I would like to know if file chapter 7, will i be able to

Customer Question

I would like to know if file chapter 7, will i be able to keep my house, because i have had two cars repossed that put a lien against my home, and will the lien be lifted. I also would like to know if i would be allowed to keep two of cars that i am still financing currently
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 7 years ago.
you would have to reaffirm the house, and if their is no or little equity you can keep the house and cars, if their is equity in them, the trustee may have you sell them to pay your creditors.
Customer: replied 7 years ago.
how would i know if i have any value in the house and cars just refinaced about two years ago
Expert:  WALLSTREETESQ replied 7 years ago.
for the house you can get an appraiser or ask a local real estate broker for what homes are going for, a car use the blue book or NADA online service for trade in value.