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HCLegal, Attorney
Category: Bankruptcy Law
Satisfied Customers: 423
Experience:  I have filed over a thousand bankruptcy cases.
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In a bankruptcy with debt on credit cards of $32,000 do credit

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In a bankruptcy with debt on credit cards of $32,000 do credit card companies have ability to put liens on home real estate where equity exists? This is the only debt on bankruptcy.
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  HCLegal replied 5 years ago.

HCLegal : Hello and thank you for your question here on Just Answer.
HCLegal : The only way a credit card company can put a lien on your property is if they sue you can get a judgment against you.
HCLegal : In bankrutpcy the real is if your house is going to be exempt, not whether if the creditors can put a lien.
HCLegal : How much is your house worth?
HCLegal : The real issue...sorry autocorrect on my iPad has a mind of its own sometimes.
Customer: $100,000 and the house is clear. There are no liens against the mortgages. So is the house exempt?
HCLegal : Are you single or married?
Customer: Married with two children under 8.
HCLegal : Here is the exemption amounts for homesteads in California.....Real or personal property you occupy including mobile home, boat, stock cooperative, community apartment, planned development, or condo to $75,000 if single & not disabled; $100,000 for families if no other member has a homestead (if only one spouse files, may exempt one-half of amount if home held as community property and all of amount if home held as tenants in common); $175,000 if 65 or older, or physically or mentally disabled; $175,000 if 55 or older, single, & gross annual income under $15,000 or married & gross annual income under $20,000 & creditors seek to force the sale of your home; forced sale proceeds received exempt for 6 months after; separated but married debtor may claim homestead in community property still occupied by other spouse. (Husband & wife may not double) 
HCLegal : So if you are under 65 your exemption would be $100,000
HCLegal : So if your home is worth $100,000 it would be completely exempt and you would be able to discharge all of your credit card debt and keep your house free and clear.
HCLegal : Please let me know if you have any other questions regarding this matter.
HCLegal :  I hope you found my answer helpful, and if so please do not forget to click ACCEPT, this is the only way that I will get credit for assisting you– I receive no credit for helping you unless you actually press ACCEPT, even if you already have a subscription. If you need more information, please use the REPLY button and I’d be more than happy to answer to your satisfaction. There is no fee for follow up questions before or after accepting, if we continue the conversation. If you feel that I went an extra step to help you, a bonus in the form of another accept or an “add on” (available after you accept) is truly appreciated.Positive feedback is also greatly appreciated.  I leave all my customers feedback and it will only take a second! If you would like to ask me a question in the future you can go directly to my profile and ask your question there.
HCLegal : Did you have any more questions?
HCLegal : Were you satisfied with my answers to your questions?
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Expert:  HCLegal replied 5 years ago.
Is there a reason why you have not ACCEPTED my answer yet? Did you have any other questions?