Q: How long after buying a house can I file bankruptcy? I wouldn't be behind on mortgage just want to dissolve other debts.
I have really great credit but my husband and I are digging ourselves into a hole with a large loan we have. We might be taking on having to add another family member to raise due to an emergency family situation, so financial restructuring is going to be in order. We would not file for bankruptcy and then try to buy a house obviously, so buying a house and then doing it is what I was thinking about. How does that work if we are not in default on the house. We obviously don't want to lose the house, we just want to dissolve the other debt. There is a lien on one of our cars tied to the loan. If bankruptcy is tied to the loan, do we lose the car? Is it possible to just dissolve credit card and loan debt in bankruptcy and not lose your house if you are not in default on your mortgage? Thank you.
A: You can file anytime but it could be considered fraudulent if you file too soon. You really should have a competent bankruptcy lawyer evaluate your entire financial situation.
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