Q: Bankruptcy - I'm married, can I file on just my stuff? Can I keep 2 loans and wipe out everything else?
About me: live in Michigan, married, 78 years old, own my home with my spouse. Combined monthly income is roughly $5200 (mine $3300, his $1900). Have over $12k in credit card debt. Have about $1,000 medical debt. Have a car loan for $12k. Have a personal loan for $9k. Can i file on everything except my car and personal loan and have all the other stuff wiped out? I have no assets other than the house and about $100 in savings. My cancer surgery and treatment wiped out the savings we did have.
A: The short answer is that you need to consult with an experienced bankruptcy attorney to determine if bankruptcy is a good option for you, or a dangerous one. In particular, real estate can be a primary concern in terms of asset protection. In a Chapter 7 bankruptcy, assets, whether your home or a vehicle or a bank account or a comic book collection, can be seized from you and sold off in order to repay some of what you owe to your creditors.
Asking a question such as this on a website such as this will not provide you the tailored, specific legal advice you need to determine whether A) you "can" file for bankruptcy and B) whether you SHOULD.
That said, all debts must be "included" in the bankruptcy whether you want them to or not. Some types of debt, such as a child support obligation, will not be discharged by the bankruptcy process--but even they must be listed and "included."
Any type of debt you owe which is not included in the list of types of debt that are not dischargeable in the US Bankruptcy Code will simply be discharged. There is no particular reason a personal loan wouldn't be dischargeable, unless you incurred the debt by way of fraud.
Seek a consultation with a Michigan bankruptcy. Most of us offer free initial consultations.
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