Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.
Dear Mr. Fortunato:
Thank you for your answer, but still somewhat confused, What is the so called median
household, and in this case , he is 81 years old , leaves along , and has very litle income.
As for the Creditor's / Credit Cards, do they have the right to file liens without any Court
actions ??? , and finally, can he loose his own residence by filing protection under
chapter 7 ??
His approx. monthly income is $ 900.00 from Social Secury, and approx.800.00 from is
work, repairing watches at home.
Current market value of present home is around $500,000 and perhaps the home could
be sold for around $ 460,000.
Current balance on the first and second mortgages are around $ 285,000.
Thank You, XXXXX XXXXX question, Other than just file ASAP, what can we do to avoid the
placement of liens on the property ??