Patric Jon Kelly's Answers

Will they take my house away?

The court never takes your house away. It is not the job of the court to do that. Only the secured creditor can do that by foreclosing or, in the case of a chapter 7 or chapter 11 trustee, the trustee can sell your house if there is sufficient equity for the bankrutpcy estate over and above your homestead exemption. Most likely, the real question you want answered is what will happen to the home after you file for bankruptcy. If you have little or no equity for the benefit of the...

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