File Bankruptcy to protect home?

[housecat]

Doing business in California. Currently involved with 3 different law suites.
Even though we feel that we are not at fault & have been told by many people we still fear that if the outcome is not in our favor our home will be taken. from mediation, one party is asking $120,000 from us. it will now go trial. The midiator privately advised to file bancruptcy or should we do a quiet claim deed to protect our house? If we do the quiet claim deed we'll we be able to have our home returned at a later time without obligation to pay the party sueing? Trial dates for 2 cases are set for this October. I'm trying to get as much info. as possible.
Thank you!

 

[bigun]

Can you say Fraudulent Conveyance?
Don't even think about a quit claim with lawsuits and a bk in the picture.
Talk with a couple of bk lawyers. Most give free initial consultations but hurry. Bk reform takes affect on 10/17.

 

[housecat]

thanks bigun!

thanks so much for your response. i was able to say Fraudulent Conveyance but had to look-up the definition. it's all new to me. i'll get info on filing for bk. we have excellent credit & will hate to resort to that but would hate to lose my house even more.