Legal Question in Bankruptcy in Alabama

We are being sued for legal bills arising from an accident my husband was in. my husband was involved in a parachute accident which left him permanently disabled. The person who ran the site was not licensed or insured but he is suing us for legal fees. Can we lose our home if we file chapter 7 bankruptcy?

Asked on 11/21/13, 5:24 pm

1 Answer from Attorneys

Joshua Snable Snable, Chaney & Snable, LLC

The short answer is...maybe. AL Homestead Exemptions laws entitle you to exempt up to $5,000 per or $10,000 jointly from the equity in your home. So, if you have an existing mortgage lien, and considering the state of the housing market, there is a good chance that you can keep your home and reaffirm the mortgage debt should you file bankruptcy. There is a lot more involved in your decision of whether or not to file bankruptcy, and I offer a free consultation. If you are in Central Alabama (within an hour or so of Birmingham), and wish to arrange a consultation, feel free to call 205.939.0780, or email me at [email protected] I wish you well.

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Answered on 11/22/13, 6:33 am

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