Hit rock bottom!

[ernbar]

What is the name of your state?What is the name of your state? Pennsylvania
The only thing we own is our house without any liens against it. But we are in about $80,000.00 in debt in credit card and loans. If I sold my house to a friend for $1(before I claimed bankrupcey )would this be legal? When I tell you I am dead broke and disabled,believe it, so hireing a lawyer is out of the question and I will not lose my house without a battle.

 

[djohnson]

You have got to be kidding right?

Why not just refinance the house with a lower interest rate than what you are paying on now? Your not the only 'broke' person out there. No one is going to feel sorry for you and tell you to do this.

 

[Debt Guy]

You can't sell your house for $1 and then bankrupt. The bankruptcy court would unwind the sale. This type of transfer is called a fraudulent conveyance.

My advice is to refi your home and use the proceeds to solve the credit card debt. You don't need to pay 100% of what you owe to the credit card companies. You could actually negotiate settlements with them.

If you choose this path, either hire an attorney or a competent settlement company to help you. Their fees will be worth the cost -- you have dangerous ideas in your head and you need someone to help you stay out of trouble.