I'm often asked if people can keep their house and car if they file bankruptcy. The short answer is usually "Yes", if they keep making the payments.
Someone asked that recently, saying that's the kind they wanted. Sorry, but there isn't a bankruptcy like that. If you don't make the payments on your house or car, bankruptcy or not, you'll lose that house or car.
I'm often asked "When can I buy a home after bankruptcy?" Let's take a look at that.
A credit card company sued me, got a judgment against me, and put a lien on my house. I can't sell the house without paying the lien amount before I get any money. Can bankruptcy help? (more…)