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cortrightlaw
cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience:  Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
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Hi there, few questions for you. Im going in on buying a house

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Hi there, few questions for you. I'm going in on buying a house with my sister and am currently not working, i have liver failure and had to take time off, my work termed me after 5 months while i was still under medical care. I dont owe anything to the hospital but i do have about 20K consumer debit. i own one car thats not in great shape but it is a luxray car, what im wondering is if i clame bankrupsy to rtight off CC debit, can i safly and legally be on the deed to the house?

cortrightlaw : The issue would be if you have any equity in the home and if so how much, you can only protect so much equity in a home when you file bankruptcy. It would most likely be better to file bankruptcy prior to being out on title to the home.
Customer:

ok, i would only be putting in like 17k


 


 


 

cortrightlaw : You would be able to protect that but it will still be cleaner to have your bankruptcy completed first so the house is not even an issue.
Customer:

Can i be put on the deed at any time


 


]

Customer:

say we buy alll under her name, while i workl on BR then add my name to the deed?

cortrightlaw : Yes your name can be added to the deed easily at any time.
Customer:

ok, so its best to buy it and then clame bankruptsy


 

Customer:

how hard is it to charge off 20k and how bad with that hurt me

cortrightlaw : I think what you have said is opposite of what I have said, you should not buy it or put your name on title till after filing bankruptcy, that way you do not have a home wich you own with someone else that has to be explained the bankruptcy trustee. As to being hard bankruptcy is not necessarily hard as long as you qualify including low enough income and a low amount of protectable assets.
Customer:

hm ok


 


 


she wants to bvuy this week im helping fund it


 

Customer:

so in that case my only plan is to stay off the lease, file BR Later if i want and then bed added to the lease


'

cortrightlaw : I thought you were buying? Then why a lease?
Customer:

soreey dead


 


 


 

Customer:

what ever its called, we'vce never owned a home


 

Customer:

we want both our names on it, but i have CC debit and medical debit

Customer:

im paying a portion for the down

cortrightlaw : Whatever way you go just remember that you can protect about 21,000-23,000 in assets in California. You might also want to go meet with a bankruptcy attorney to discuss your situation in detail.
Customer:

does a home and a everyday driver count as such assets?

cortrightlaw :

yes a home is an asset and a car is an asset that needs to be protected. You really need to go meet with an attorney to discuss the details of your situation before you make any moves.

Customer:

ok ty

cortrightlaw and other Bankruptcy Law Specialists are ready to help you