Bankruptcy Law

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I need an explanation of the Homestead Exemption and how it
I need an explanation of the Homestead Exemption and how it works during a Chapter 7 filing.In Louisiana, there is a $35,000 homestead exemption on the primary residence. Let's say that I have a home … read more
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Filling Bk 7 in Illinois/married filling separateI need to
Filling Bk 7 in Illinois/married filling separateI need to file Bk because I have lots of debt and no job anymore. I am married,w small kids,and I want to file by myself(not joint w my spouse).I own a… read more
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I need some advice on bankruptcy. I own my home, and I also
I need some advice on bankruptcy. I own my home, and I also have a rental property. I might have to declare bankruptcy. Is there a way to be able to protect my properties from being taken away from me… read more
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How is a non filing spouses real property interest protected
How is a non filing spouse's real property interest protected in bankruptcy? For example, suppose husband and wife are on title to a property. The husband files for bankruptcy. The wife does not. The … read more
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If we file backruptcy and have a rental house up for sell so that we c
If we file backruptcy and have a rental house up for sell so that we can buy out an half owner on our residental home can theyt ake it from us.? The profit from selling the rental we would take it to … read more
cfortunato
cfortunato
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Hi, I have a rental property with a 1st mortgage of 270k and
Hi, I have a rental property with a 1st mortgage of 270k and a 2nd mortgage of 120K. The property maybe worth $270 if lucky. Previously I was told the following: "Since there is no equity in the renta… read more
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Bankruptcy question for state of Maryland - Can I file Chapter
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I own a beach house in Delaware with our former best friends.
I own a beach house in Delaware with our former best friends. There are four names on the mortgage/deed. Our friends divorced three years ago. Now, he filed Chapter 7 bankruptcy last week. He filed in… read more
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Hi, I currently have a rental property that I am trying to
Hi, I currently have a rental property that I am trying to hold onto. It has two mortgages the first for $270k and the second for $120K. Today is the last day to pay the utilites before they go into l… read more
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I am considering filing personal bankruptcy in order to eliminate
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My question is a followup to my question about stripping a
My question is a followup to my question about stripping a lien off a house in Chapter 13. I have a second trust deed that on top of the first exceeds the current market value of the house by plenty. … read more
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I am a first mortgage secured lender on 8 rental homes. The
I am a first mortgage secured lender on 8 rental homes. The owner of the rental homes has recently filed for Chapter 11 bankruptcy (the first meeting is scheduled for 7/13/10). He has multiple rental … read more
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If I go bankrupt, how is my land contract on a piece of land
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I am going to file Chapter 7 bankruptcy in the next 30 days.
I am going to file Chapter 7 bankruptcy in the next 30 days. I have a second mortgage on my primary residence that is tied to a rental house. The money was borrowed against my primary residence to fix… read more
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we know someone filing bankruptcy (dont know if its 7 or 13),
we know someone filing bankruptcy (don't know if its 7 or 13), he has moved out of his house and we want to purchase it. he claims we have to wait until the date he files, otherwise it would mess up h… read more
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My house going for foreclosure and I just got a Notification
My house going for foreclosure and I just got a Notification for trustee Sale for June 12. I have hired a lawyer, who could not do anything for three month to help me with loan modification, not I wan… read more
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I own two homes and am thinking of filing for Chapter 13 Bankruptcy
I own two homes and am thinking of filing for Chapter 13 Bankruptcy protection. I am planning to forfeit home #1. If I sell home #2 after I file for bankruptcy, can my creditors seize any of the proce… read more
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We recently moved to South Dakota, and due to poor economy
We recently moved to South Dakota, and due to poor economy have been unable to sell our house in Arizona. It has been on the market for over 3 months. If we drop the price any further we will lose mon… read more
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Meet the Experts:

Terry L.

Terry L.

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JoeLawyer

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I am an attorney.

Paul K, Esq.

Paul K, Esq.

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10 years Exp., Great customer service, Prompt responses.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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