Posted on: 12th Sep, 2010 09:15 pm
I AM CONSIDERING FILING FOR CHAPTER 7. I AM A SINGLE PERSON
I HAVE TWO MORGAGES
A FIRST AND A LINE OF CREDIT, WITH DIFFERENT BANKS.
I HAVE OVER 20,000 IN CREDIT CARDS.
I ALSO OWNED 2 LOTS THAT ARE PAID FOR.
DO I HAVE TO INCLUDE MY LOTS IN THE BANKRUPCY?
EVEN THOUGH THEY ARE WORTH LESS THAN WHAT I PAID FOR.
PLEASE ADVICE....
I HAVE TWO MORGAGES
A FIRST AND A LINE OF CREDIT, WITH DIFFERENT BANKS.
I HAVE OVER 20,000 IN CREDIT CARDS.
I ALSO OWNED 2 LOTS THAT ARE PAID FOR.
DO I HAVE TO INCLUDE MY LOTS IN THE BANKRUPCY?
EVEN THOUGH THEY ARE WORTH LESS THAN WHAT I PAID FOR.
PLEASE ADVICE....
Welcome nordonez,
It is not mandatory for you to include the free and clear lots in your bankruptcy filing but you will have to list them as your assets.
It is not mandatory for you to include the free and clear lots in your bankruptcy filing but you will have to list them as your assets.