Schwertner, TX Bankruptcy Law Firms & Lawyers

The answer depends. Do you have equity in the trailer? Often, when items are brought on credit there is very little equity, if any, at the beginning of the loan. If so, can it fit into one of the California exemptions: vehicle, wildcard, tools of trade? The last one may be applicable if the item is used as a tool in business. You say you are using the trailer to transport items for others and earning money for doing so.

In my practice, I've found that most couples can buy a house at reasonable interest in two years after filing a Chapter 7. You'll need to reestablish your credit. That means you have to make your payments on time to a business that reports to the credit agencies. For example, you're renting an apartment or a house, you pay utilities but most landlords and utilities don't report to the credit agencies. Car loans and credit cards generally report, so if you have a car loan, you're rebuilding your credit just by making the payments. When you filed bankruptcy, you received a swarm of car loan and credit card offers - many of these are ripoffs but you should look at them and if there is a low limit credit card with a good interest rate (in your case consider 18% a good interest rate), then apply and make the payment every month.

Your mortgage company probably filed a reorganization. Generally, your rights are unchanged. Consult with an attorney as to the specific facts of this case.