Dear Bankruptcy Adviser,
I have filed for Chapter 7 after failing the income test but passing the means test. I was unemployed for four months and have $85,000 in unsecured debt that I have been barely paying off, and $500,000 on a secured debt associated with a house in foreclosure.
The problem is that for the last two months I have had (more…)
Dear Real Estate Adviser,
I am giving my house back to the bank. Can they go after my savings? What about other assets? I am near retirement age.
— Kitty
Dear Kitty,
Depending on the state where you live, the bank could conceivably come after your savings through a deficiency judgment. However, these days there’s a better-than-average (more…)