Spring Hill, FL Bankruptcy Law Firms & Lawyers

Yes. You can file a Chapter 13 bankruptcy to let you retain your home and restructure your debt over a 60 month repayment period if necessary. In many cases you are not required to repay ANY credit card debt.

If the co-owner is not your spouse whose co-ownership interest is community property, and if the judgment lien attached after the co-owner acquired his or her ownership interest, then the judgment lien against you only attaches to your ownership share of the house. If the co-owner is not your spouse, and the judgment is not against the co-owner of the house, then the co-owner's share of the house is not subject to the lien of the judgment creditor. The judgment lien on a debtor's residence will survive a Chapter 7 or 13 bankruptcy case unless it can be avoided [extinguished] by a motion to the bankruptcy judge for an order avoiding the judgment lien on the ground that the lien impairs your homestead exemption. You will need a bankruptcy attorney to make such a motion. Several conditions must exist for the motion to succeed. First, you must prove you reside in the house. Second, you must prove that you have less equity in your house than the full amount of your automatic homestead exemption, but if the bankruptcy court would make an order reducing or eliminating the judgment lien, then that would produce equity up to the amount of your automatic homestead exemption. The amount of the automatic homestead exemption in California is $75,000 for a single person, and it is higher if you have a spouse or child residing in the house with you, and it is still higher if you are disabled or over the age of 65 or over the age of 55 with limited income.

You can file a bankruptcy alone, you do not need to include him, you never lived together. Chapter 7 is available to you if you make under the median income of the state for your household, and it appears that if your parents are basically dependents, you could make probably around $55,000 per year and still file chapter 7. Consult with a local bankruptcy attorney. A reasonable fee is around $1500 and the filing fee is $306, plus you have to take a class before you file and a class after you file, and the cost of that is around $50.