Q: Thinking about filing chapter 7 or13 due to being sued for credit card debt I can not pay. Will my home be liquidated?
A: Unless you are in the arrears on your mortgage, your home will not be effected by filing bankruptcy. Prior to filing bankruptcy however, it is essential that you speak with an attorney to ensure you are able to adequately protect any equity in your home from creditors. In Maryland, homeowners are currently able to exempt up to $23,675.
David Gormley agrees with this answer
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