Homes in Chapter 7 Bankruptcy Cases

What happens to your home in a Chapter 7 bankruptcy case? When you file a bankruptcy case, a trustee will be assigned to sell any property you may own that is not protected. The money is used to pay your creditors and court fees. Even though a trustee could hold your case open to see if the value of your home increases, he cannot hold the case open indefinitely. Assets are usually valued as of the day you file your bankruptcy. An attorney can explain in more detail how this would apply to your home.

For more read the full story at, “How Safe is My Home in Chapter 7 Bankruptcy?.”

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