Will I lose my home if I file for bankruptcy?
Often, a person’s home is his or her largest and most valuable asset, not only in terms of dollars but also regarding the safety and protection of their family. Unfortunately, there is no definite answer for whether or not you will be able to keep your home if you file for bankruptcy. Each case is unique, and your situation will depend greatly on the severity of debt and the bankruptcy chapter you choose. You have a greater chance of keeping your home under Chapter 13 than Chapter 7 because Chapter 13 lets you set up a repayment plan rather than liquidate your assets.
To learn more about how you can protect your family and your home during bankruptcy, contact the knowledgeable Joliet Chapter 13 bankruptcy attorneys of the Law Offices of Stuart B. Handelman today by calling 815-722-2201.