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Ohio bankruptcy homestead exemption laws, if I file Ch.7 will I be able to keep both houses
Cincinnati, OH
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Posted about 1 year ago in Bankruptcy / Chapter 7
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Can I keep both houses?:
I am a general contractor living in Ohio. I have one house that I live in that has a little bit of equity. I have another house that I rent out. There is no equity in that house, but I would like to keep it in hopes that the market will rebound. If I file Ch.7 will I be able to keep both houses? The filing of the bankruptcy is for my credit card debt.
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Answers (1)
Gregory J. Jalbert
This attorney is licensed in Washington.
Posted about 1 year ago.
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My best advise to you is to seek the advise of a competent bankruptcy lawyer. Most bankruptcy lawyers offer a first visit free consultation. Make sure that you select an attorney that has been practicing law for a considerable period of time and who's emphasis is on bankruptcy law. When you call to make an appointment I would find out what documents you should bring to your meeting in order to get the maximum benefit from your free consultation.
It is sometimes possible to keep houses in which there is no equity when you file a chapter 7 but the first step is to determine whether you pass "The Means Test". If you don't a chapter 7 is not available to you. If you file a chapter 13 keeping the second property is probably not likely. |
