Posted on: 20th Nov, 2010 06:33 am
i have over $30,000 in credit card debt and have been turned down for a home equity loan because of my debt to income ratio. i have over $100,000 in equity in my home and if i could access that, i could pay my debts and then be able to repay my loan. i feel like bankruptcy is my only option, but don't know how much of the equity i could keep.
Hi plotkinalexis,
The amount of equity that you will be able to keep will depend upon your state laws. You should contact your bankruptcy attorney and take his opinion in this matter. He will be able to let you know the correct amount.
The amount of equity that you will be able to keep will depend upon your state laws. You should contact your bankruptcy attorney and take his opinion in this matter. He will be able to let you know the correct amount.