Maryland  |  Bankruptcy

Legal Question

Asked on: 10/11/07, 12:45 pm

Chapter 7

I have a home i owe 40k more than its worth on, a boat that i owe 30k more than its worth on, and a truck that i owe 15k more than its worth on, plus 100k in credit card debt. If i file can i get rid of my mortgages, equity lines and property and start over fresh? I did move to florida last year, rented and should prob file taxes there for 07. But i have moved back to MD to my home where i was prior to florida for 4 years. I dont want to keep the house and i want to let all the debt go, is it possible?

1 Answer


Answered on: 10/11/07, 12:53 pm by Daniel Press

Re: Chapter 7

Assuming you pass the means test (you are below the median income or, if above, your income less a combination of actual and presumed expenses are below a certain amount), and therefore qualify for chapter 7, you should be able to do what you are inquiring about. You should consult an experienced bankruptcy lawyer to go over your situation in detail.


Did you find this answer helpful?

0 Users found this answer helpful.

0 Attorneys agree with this answer.


Chung & Press, P.C. 6718 Whittier Ave., Suite 200 Mclean, VA 22101

Other answers from this attorney

Didn't find what you were looking for? Ask an Attorney!

Get answers from the top Attorneys
Ask Question

133 Answers given in the last few hours.

8661 Active attorneys ready to answer your question

Search Past Answers:
  Advanced Search