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When filing for ch 7, do you have to include all of your accounts or can you choose what to file under ch 7? I own my home and i would not like to include that in the filing. I am almost done paying for it.

I think you have to include everything, but secured debts, such as your home do not get discharged like unsecured debts. However, depending on how much equity you have in your house, it's not guaranteed that you would be able to keep it. You get a certain amount in exemptions, depending on what state you live in, and any property that you own which is worth more than your available exemptions can be sold by the trustee to pay your creditors (unless you can somehow afford to buy it back yourself). Since you say you are almost done paying for it, there is a good chance that the fair market value would exceed your exemptions.

Sub: #1 posted on Thu, 08/07/2008 - 17:09

alias1958 alias1958

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You have to include all your debts. If the court finds that you've intentionally left out certain debts, your case will be dismissed and you will not be able to file again for a certain amount of time, like 6 months.

Sub: #2 posted on Fri, 08/08/2008 - 06:40

goudah2424 goudah2424

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