Legal Question in Bankruptcy in Virginia

Can we keep our home and vehicles?

due to medical problems we previously filed a chapter 13 in florida. it was discharged 1992. we find ourselves in the same, but worse, prediciment again. we owe

approximately $80,000 in medical bills, about $9,000 on one vehicle and own another vehicle free and clear and about $20,000 credit card debt. Our mortgage is approximately $152,000 and we might have about $50,000 equity. my husband is retired and receives approximately $1200 per month in social security and i receive approximately $590 per month in social security disability. we have no other income. we have a payment plan with the hospital but we can only afford $10.00 per month which will never end since we owe about $80,000. the hospital previously got a judgement for approximately $10,000 a few years ago.

can we keep our house and vehicles and still file chapter 7? or would we have to file chapter 13? can you recommend an attorney in the fredericksburg, virginia area?

thank you for your speedy reply.


Asked on 7/15/04, 6:00 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: Can we keep our home and vehicles?

Given the equity in the house, you may have to file a 13 to save it, but a 7 might possibly work (depending on the costs of sale, etc.). As for the vehicles, it depends on what they are worth. You should retain competent bankruptcy counsel to advise you. We practice bankruptcy law throughout most of the state, so feel free to contact us if you wish to discuss the matter.

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Answered on 7/15/04, 6:51 pm


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