Can I Keep My House If I File Bankruptcy?

Can I keep my house if I file Bankruptcy?

If you file Chapter 7 Bankruptcy, your Chapter 7 Bankruptcy Trustee will not liquidate your house if there is no net value after the claimed exemption pursuant to the California exemption statutes, amount encumbered by your secured lender, recorded property taxes owed, recorded unavoidable judgment liens, and cost of sale like the commission to real estate agent for the sale.

If you are concerned about Chapter 7 Bankruptcy Trustee liquidating your house due to excess net equity, you might prefer a Chapter 13 Bankruptcy if you want to keep your house. Chapter 13 bankruptcy is a repayment plan based on amount of net asset after exemptions claim claimed pursuant to the California exemption statutes, amount of priority debts, other secured debts, and household income. Even though you might have to pay some of your debts back in the Chapter 13 Bankruptcy repayment plan, in many cases you are better off than dealing with your creditors on your own. In most cases, Debtors ended up paying their creditors less under a Chapter 13 Bankruptcy plan than on their own, moving on with their life, and focusing on other better things than their debts.

Call Muoi Chea Bankruptcy Attorney to protect your home. Bankruptcy Attorney Offices in Sacramento, Stockton, and Fairfield, California to serve all of the following cities:
Alpine, Amador, Butte, Calaveras, Colusa, El Dorado, Glenn, Lassen, Modoc, Mono, Nevada, Placer, Plumas, Sacramento, San Joaquin, Shasta, Sierra, Siskiyou, Solano, Stanislaus, Sutter, Tehama, Trinity, Tuolumne, Yolo, Yuba City, Lodi, Galt, Manteca, Modesto, Tracy, Davis, Woodland, Elk Grove, Carmichael, Citrus Heights, Orangevale, Antelope, Fair Oaks, West Sacramento, Roseville, Rocklin, Rancho Cordova, Lincoln, North Highlands, Folsom, El Dorado, Ripon, Fairfield, Vacaville, Dixon, Vallejo, Woodland, Davis, Winters, Oakdale, Newman, Patterson.