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Maria Ann Milano's Answers

Maria Ann Milano
Seattle Bankruptcy Attorney.
Contributor Level 3

4

Attorney answers:

  1. Ruben Ernesto Vasquez
  2. David Glenn Baker
  3. Maria Ann Milano

Do I need a lawyer to declare Chapter 7 Bankruptcy in Texas? Can I keep my house if I do declare Chapter 7 Bankruptcy?

Asked by a user in San Antonio, TX - over 2 years ago.

You do not need a lawyer to file for Chapter 7 bankruptcy protection in any jurisidiction. Whether you can keep your house or not will depend on a variety of specific factors. The value of equity in a home that a debtor is entitled to retain (your "homestead exemption") varies by state and whether your state allows you to choose state exemptions or just the federal exemptions when in bankruptcy. If you are "under water by $100k" you probably have no equity, but depending on the status of...

4

Attorney answers:

  1. Ruben Ernesto Vasquez
  2. David Glenn Baker
  3. Maria Ann Milano

Do I need a lawyer to declare Chapter 7 Bankruptcy in Texas? Can I keep my house if I do declare Chapter 7 Bankruptcy?

Asked by a user in San Antonio, TX - over 2 years ago.

You do not need a lawyer to file for Chapter 7 bankruptcy protection in any jurisidiction. Whether you can keep your house or not will depend on a variety of specific factors. The value of equity in a home that a debtor is entitled to retain (your "homestead exemption") varies by state and whether your state allows you to choose state exemptions or just the federal exemptions when in bankruptcy. If you are "under water by $100k" you probably have no equity, but depending on the status of...