Florida | Bankruptcy
Legal Question
Mobile Home and Credit Card Debt
My Wife and I jointly own a mobile home and the property it sits on in Pinellas County Florida. There is no mortgage on the trailer or property and it's current resale value is approximately $40,000. However, we have credit card debts exceeding this amount. We each have an automobile, my Wife's car still has a large loan balance on it. We do not have any other assets such as stocks, bonds, insurance policies, etc. We both are on Social Security Disability. I have been doing legal research and it seems to me that we are almost judgement proof from the creditors right now. However, my Wife would like to sell our home and move to Ohio to be with her ailing Father. We are behind on most of the credit cards. My basic question is what would happen to the proceeds of the sale of our Florida trailer? Would we have to divide it up amongst the creditors or could we keep part or all of it?
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Read More Answered By: RP Hartley |
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