Legal Question in Bankruptcy in Alabama
the only asset i have is a home thats pd. for.During these hard times,i am finding myself unable tokeep all my bills paid. I have 2 credit card debts, totaling 40.000 dollars. they have gone up on my payments, on one, to over $418.00 a mo. My husband has ALZ, and i am careing for him, and now i learn that i may have cancer.It is more than i can handle,if i file bankrupcity, can they take my house?
Asked on 2/25/10, 5:29 pm
1 Answer from Attorneys
James Patterson
Underwood & Reimer, P.C.
A bankruptcy is certainly an option. However, you own your house outright, so if the amount of equity you have exceeds your exemptions under the code, you may have to pay some money back to the trustee for your unsecured creditors. You really need to speak to a local bankruptcy attorney to find out your options.
Answered on 3/03/10, 9:32 am
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