Legal Question in Bankruptcy in Texas
can an individual file for bankruptcy on a home that their name is just on the deed of trust, not on the loan account and the person who's name is on the loan isnt filing for bankruptcy?
Asked on 12/03/09, 10:41 am
1 Answer from Attorneys
Mark Dunn
Mark D. Dunn
The filing of bankruptcy is never limited to one debt. One qualifies for bankruptcy based on the totality of one's circumstances - the property he owns (whether or not it's exempt), the living expenses he has, the income he currently has, and the types of debts.
The evaluation of whether or not one "qualifies| for bankruptcy is very complicated. You need to talk to a bankruptcy lawyer.
Answered on 12/09/09, 11:05 am
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