Will I lose my home if I file for bankruptcy?
The answer to this question is, unfortunately, complicated and greatly depends on each person’s individual case. While there are exemptions available to let debtors keep their homes, it will depend on the details of a person’s financial situation. However, there are a number of bankruptcy options, such as filing for Chapter 13 bankruptcy as opposed to Chapter 7, which can help you keep your home. Through Chapter 13, you can repay your debts in a repayment plan as opposed to liquidating assets.
For more information about whether or not you can keep your home after filing for bankruptcy, contact the Cedar Rapids bankruptcy attorneys of Hong Law, PLC, at 319-632-1400.
Coralville, IA 52241
Phone: (319) 354-1804
Map to our Coralville Office