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    johnbrennan's Avatar
    johnbrennan Posts: 1, Reputation: 1
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    #1

    Feb 19, 2008, 01:27 PM
    Can you keep your house in Bankruptcy in Colorado
    We have $80,000 in debt that we want to file bk on. We do want to keep our house.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Feb 19, 2008, 01:48 PM
    It all depends, first what type of debts, ( not that it really effects keeping the house but will effect if you can do bankrutpcy)

    And there is wage and debt qualifications that have to be meet.

    But it depends on how much the house is worth, and how much loan you have against it. Only a certain amount is allowed to be exempt from being taken by the court in a chapter 7.
    In a chapter 13 plan you do get to keep your house and the payment will be normally included into the monthly payment to the court.
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