Can I keep my house if I file for bankruptcy?

In most cases, individuals who pursue bankruptcy protection are able to keep their homes. Under Chapter 13 bankruptcy, the debtor repays the debts which they owe to their creditors, meaning that they aren’t at risk of losing their home. Chapter 7 bankruptcy, which involves the liquidation of assets to pay off creditors, is more likely to pose a risk to an individual’s home, though in many cases, debtors pursuing Chapter 7 bankruptcy are allowed to keep their homes.  With a qualified lawyer fighting for your case you will be at very little risk of losing your house.

If you would like to know more about whether you may be able to keep your home if you file for bankruptcy, please contact the Cedar Rapids bankruptcy lawyers of Hong Law, PLC today at (319) 294-5853.