California | Bankruptcy
4/09/09, 11:15 am
Legal Question
Bankruptcy law in CA
We are a sole proprietor business in construction. I am being suied in court, cannot afford to finish case with high lawyer fees. If I represent myself and lose will bankruptcy protect my home, my rental property, and the plaintiffs award approx. $70,000 be erased. My home has no equity, my rental is upside down- no equity. Will bankruptcy forgive the $70,000 altogether. My wife and I make approx $60,00 yr, right now that goes all morgages, second on house, payback 401k loans. No construction business income at all, license not active since 2008.
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