Kevin John Stewart's Answers

Will we lose our house, held in title under our LLC, if we file Chapter 7 bankruptcy?

Depending on its value and the amount of equity you have in it, you could possibly keep the house. In any case, the trustee would probably not want an uninhabitable (and therefore un-sellable) house. There are many more questions to consider, however. Each case is different. But aside from the question of keeping the house, with your stated lack of income and large debt level, you should consider Chapter 7 bankruptcy.

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Can a credit card company sue me for a debt over 10 years ago? I live in California

The short answer to your question is: Yes, a creditor can sue you for a debt over 10 years old. Will they win their lawsuit and be able to collect on the debt? That depends on several factors. In most cases, creditors or collection agencies do not file legal actions on such old accounts. In California, the statute of limitations for most consumer debt is 4 years, so 10 years is far beyond that. However, some debtor actions, such as partial payments, will revive the debt and re-start the period...