Some people who file for Chapter 7 relief may be able to stay in the homes that they live in when they file their bankruptcy petitions. Generally, if you do not have equity in your home that is above and beyond the bankruptcy exemption and you are up to date on your mortgage payments, then you may be able to stay in the home that you have been living in even if you file a Chapter 7 bankruptcy.
If staying in your current home is important to you, then your Dakota County bankruptcy lawyers will fight hard for your right to continue to live at your current address. This is something that you and your Dakota County bankruptcy attorney will talk about before you file for bankruptcy.
If staying in your current home is not a top priority for you or if it is unlikely given your unique circumstances, then your Dakota County Chapter 7 lawyer will talk to you about your alternatives and the likelihood of getting a new mortgage or lease.
Do not let concerns about your housing arrangements prevent you from getting bankruptcy advice. It is only with comprehensive knowledge about the bankruptcy process that you can make an informed decision about your future.
For more information, please call our Dakota County bankruptcy law firm today at 952.388.2942 or 1.800.619.8991. We also invite you to download a FREE copy of our book, What You Need to Know About Filing Bankruptcy in Minnesota, for more information.