Legal Question in Bankruptcy in Alabama

I'm faced with having to file bankruptcy due to collection action by a credit union with whom I was a joint signer on a credit card with my ex-husband. He ran up the balance to over $17k after the divorce.

My concern is more now about my home...the value of my home has fallen in the last year and a half by $70k. I now owe $56k more than it is worth. Is the best advice to let go of the home as part of the bankruptcy as well? Only reaffirm my vehicle and a credit card issued through my employer in order to retain my job? Chapter 7 being the best option?


Asked on 8/21/09, 1:31 pm

1 Answer from Attorneys
Melinda Dionne Dionne & Dionne

More information is going to be required for a meaningful answer to your question. What is "best" will depend on your entire facts and financial background. Giving up the house is certainly one option available to you in a Chapter 7. There are many firms that offer a free consultation. I would suggest you contact an experienced bankruptcy lawyer to review your financial picture. For more information on Chapter 7 and Chapter 13 please visit dionnelaw.com.

Thank you

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Answered on 8/26/09, 2:49 pm


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