California | Bankruptcy
2/06/09, 2:32 am
Legal Question
Bankruptcy
A friend of mine had a fire in her condo and the insurance will cover only the exterior. She has about $20,000 in credit card debt. She barely makes enough for the basics, mortgage payment, car payment and is very behind on credit card payments. She doesn't want to loose the condo. Can she file bankruptcy and keep the condo since the equity value is probably now below $50,000 because of the fire?
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