Bankruptcy and home sale profit

[Tewing]

What is the name of your state (only U.S. law)?Arizona
If I file consumer bankruptcy, and I sell my house, will they make me use the proceeds from the home sale to pay off the bad bankruptcy debts?

 

[FlyingRon]

What sort of bankruptcy are we talking about? Chapter 7 or 13?

Yes, any equity in your house is an asset and can be used to pay your debts subject to certain exemptions. Discuss this with your attorney. I think in Arizona, there's quite a substantial ($150,000) homestead exemption.