Re: Bankruptcy option?

Posted by LadynRed (199.91.33.254) on March 03, 2004 at 14:35:34:

In Reply to: Bankruptcy option? posted by Karen on March 03, 2004 at 08:24:49:

Its unlikely that you would lose anything. A lot depends on the equity in your home. NY allows 10K in equity, if you file jointly that is doubled. If your cars are financed, then you can always reaffirm IF you are current on payments and can keep them current. If they're paid for, again, it depends on their equity.

You CAN reaffirm on a home in CH7, but you MUST be current to do so. If you cannot get current, then you may be looking at a Ch 13 to save your home.

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