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Consumer Bankruptcy : Chapter 7, Chapter 13, Protection From Claims of Creditors
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  #1  
Old 12-22-2003, 07:45 PM
lakota717
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Home Equity

What is the name of your state? virginia

I am in dire straights. Need to file bankruptcy but was told I had to much equity in my house not to lose it under Chapter 7 and not enough income to substantiate Chapter 13. Any advice would be helpful.
  #2  
Old 12-23-2003, 07:14 AM
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Did a lawyer tell you this?
  #3  
Old 12-23-2003, 11:01 AM
lakota717
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The guy presiding at the bankruptcy hearing told me that when I appeared for the first session (when the creditors are to appear).
  #4  
Old 12-23-2003, 11:35 AM
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I'm confused? Have you actually filed BK? Did you use a lawyer?
  #5  
Old 12-23-2003, 12:57 PM
lakota717
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Yes, I did file Chapter 7 Bankruptcy and had to appear in court yesterday. At the meeting of the creditors, I was asked the normal questions, state name, etc..and was told at that time I had to much equity in my house to declare Chapter 7 without running the risk of it being sold to pay off the creditors and my income would not substantiate filing Chapter 13.
  #6  
Old 12-23-2003, 01:29 PM
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If you don't have a lawyer, I'd suggest you retain one quickly.
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