Can I file for chapter 7 bankruptcy after I sold my home? 16 Answers as of March 10, 2011

I sold my home 2 yrs ago. I need to file chapter 7. Can I do it?

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Law Offices of Geoffrey Nwosu
Law Offices of Geoffrey Nwosu | Geoffrey Nwosu
Yes. You can file for chapter 7 bankruptcy after you sold your home. Chapter 7 bankruptcy will eliminate your unsecured debts. However, you have to pass the means test. You may not be able to qualify if your income is too high. It is advisable that you schedule an appointment with a bankruptcy lawyer to evaluate your individual financial situation.
Answer Applies to: California
Replied: 3/10/2011
Uriarte & Wood, Attorneys at Law
Uriarte & Wood, Attorneys at Law | Robert G. Uriarte
Yes, but talk to a lawyer first to make sure any proceeds of the sale, if any remain, are protected.
Answer Applies to: California
Replied: 3/10/2011
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Yes, there is no reason you can't unless you sold for less that what it was worth at the time.
Answer Applies to: California
Replied: 3/8/2011
Law Office of Harry L Styron
Law Office of Harry L Styron | Harry L Styron
Yes.
Answer Applies to: California
Replied: 3/7/2011
Rhonda R. Werner Schultz, PL
Rhonda R. Werner Schultz, PL | Rhonda R. Werner Schultz
If your income qualifies under the means test you can file for Chapter 7 bankruptcy. You should consult with a skilled bankruptcy attorney to assess your current assets and income to determine whether you are eligible for Chapter 7 and whether it is in your best interests to file under that chapter. The sale of your home is not a qualifying event, but will affect your exemptions when filing bankruptcy.
Answer Applies to: Wisconsin
Replied: 3/7/2011
    Ursula G. Barrios Law
    Ursula G. Barrios Law | Guillermo Machado
    Yes, you can file after selling your home.
    Answer Applies to: California
    Replied: 3/7/2011
    Judith A. Runyon, Esq. Attorney at Law
    Judith A. Runyon, Esq. Attorney at Law | Judith A. Runyon
    Yes.
    Answer Applies to: California
    Replied: 3/7/2011
    Cohen & Kendziorra, P.A.
    Cohen & Kendziorra, P.A. | Robert S. Cohen
    Yes you can file bankruptcy.
    Answer Applies to: Florida
    Replied: 3/7/2011
    Carballo Law Offices
    Carballo Law Offices | Tony E. Carballo
    Assuming you otherwise qualify and everything else is no problem, having sold a house or any other asset or property is not a problem assuming you received the fair market value of what you sold. However, you have to account for the money if you sold assets. The money just cannot disappear. Otherwise, people would sell assets they could not protect in bankruptcy, put the cash under the matress and file for bankruptcy and not pay any debts. Obviously, some people do get away with that, which is known as bankruptcy fraud and probably perjury since some of the questions in the bankruptcy petition would have to be answered untruthfully. However, some people have their discharge denied, lose property and even go to prison for fraud and lying. If you sold a house for a fair price and needed the money to live or put the money in an exempt account up to a reasonable limit, then it should be no problem with the sale if you need to file a bankruptcy case.
    Answer Applies to: California
    Replied: 3/6/2011
    Ferguson & Ferguson
    Ferguson & Ferguson | Randy W. Ferguson
    Yes. It should not be an issue. Talk to a bankruptcy lawyer in your area that gives free consultations. Bankruptcy attorneys almost always give free consultations.
    Answer Applies to: Alabama
    Replied: 3/6/2011
    Law Office of L. Paul Zahn
    Law Office of L. Paul Zahn | Paul Zahn
    Yes, if you qualify based upon income levels. There is no requirement that you be a home owner to file for bankruptcy. If you are looking for assistance with filing a chapter 7 bankruptcy, please contact me for a free consultation.
    Answer Applies to: California
    Replied: 3/6/2011
    William C. Gosnell, Attorney at Law
    William C. Gosnell, Attorney at Law | William C. Gosnell
    Yes.
    Answer Applies to: Tennessee
    Replied: 3/6/2011
    Law Offices of Michael J. Berger
    Law Offices of Michael J. Berger | Michael J. Berger
    Selling your house does not prevent you from filing Chapter 7. The problem with your question is that it does not give me enough information to see if filing Chapter 7 would be right for you. To analyze your personal situation, I need detailed information about your assets, debts, income and expenses. The best way to see if Chapter 7 is right for you is to call me for a free consultation.
    Answer Applies to: California
    Replied: 3/6/2011
    The Law Office of Mark J. Markus
    The Law Office of Mark J. Markus | Mark Markus
    Eligibility for filing bankruptcy has nothing to do with assets you've sold. It is based primarily on income received in the 6 months prior to filing your case, as well as expenses and the amount of debt that you have, as well as other factors. You need to consult with a bankruptcy attorney in your area to go over the specifics of your situation and see what you are eligible for.
    Answer Applies to: California
    Replied: 3/6/2011
    The Carmichael Firm
    The Carmichael Firm | Booker Carmichael
    Yes. Call to discuss your options.
    Answer Applies to: Louisiana
    Replied: 3/6/2011
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