Orange Park, FL Bankruptcy Law Firms & Lawyers

You really need to consult with a bankruptcy attorney. You cannot rely on a petition preparer to give you legal advice, although they are cheaper, you get what you pay for. It depends upon which chapter you are able to file. If you file a chapter 7, the trustee will get your interest in the house that is co-owned with someone else, and probably try to sell your interest in it to the co-owner. If you file a chapter 13, you will have to pay a portion of the judgment against you, as high a percentage of what is owed as you can pay over the course of 3 years, extended to 5 with court approval. You need an attorney to help with these issues.

The honest debtor overwhelmed by debts may get a fresh start by petitioning the court for discharge of the debts in bankruptcy. Discharge means that the debts are wiped out the debtor no longer owes the creditor for a discharged debt, although he / she may pay it off if he wants to and can afford to later. Some debts are not dischargeable, and that includes student loans. (Actually, there is a very narrow exception that almost no one qualifies for.) If you don't make much money, and your debts are high, you may qualify for bankruptcy. You can find out whether you qualify and how bankruptcy may benefit you by making an appointment to see a bankruptcy attorney. Many bankruptcy lawyers give a free consultation. You will help yourself and the attorney if you take certain documents with you: Your last two tax returns, your last several pay stubs, your most recent statements or invoices for all your bills and debts, a current credit report, title documents for vehicles and real property that you own, files from any lawsuits you are involved in, and a list of your monthly expenses. Be prepared to pay the attorney in advance of filing your case, since the attorney can't be one of your creditors, and for a couple of debt management courses to help you avoid debt problems in the future. Hope this helps. Good luck.

No. If they sell the house at a loss, they will have to sue you in a civil lawsuit. They can only put a lien on your property if they get a judgment in court.