I have been disabled since 2003, less than a year
Date: Tue, 04/19/2011 - 07:30
I have been disabled since 2003, less than a year ago I was finally accepted for Social Security Disability, so I have limited income. Due to past credit card debts I was unable to pay, I currently have $20,000 in leins against my home. I have spoken with credit and banckruptcy attnys. They say that if I file bankruptcy the Judge will force me to sell my home to pay the creditors. I can't afford monthly payments to settle the debt. I am looking for a way out, as I cannot lose my home, with me disabled, a 76 yr old disabled man, and my 35 yr old unemployed son who takes care of both of us. Any suggestions would be great.
It is not mandatory for you to sell off your property if you fil
It is not mandatory for you to sell off your property if you file bankruptcy. If you go for Chapter 7, you can get your other debts discharged. As far as the property is concerned, you can reaffirm the mortgage and keep on paying it so that you're able to save the property and stay in it. For further information in this matter, you should contact a bankruptcy attorney.
It depends on how much equity you have in the house, and your st
It depends on how much equity you have in the house, and your state's BK exemptions. It sounds like maybe the OP owns the house free and clear? But has judgment liens from credit card lawsuits?
If so, just live with the liens. If you are on Social Security, they can't take that.