Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Bankrtupcy property question.........help!? - My wife and I, I'm sure like many around the country, have accumulated sizeable credit card debt over the past 10 years. Over $15,000. Weddings, medical bills, college, hey, what can I say?
We bought a house last year, but now I lost my job. We may have to sell the house, which we are fine with anyway. My parents are offering us to possibly live in the house that I grew up in and they want to sell it to us for $1, while we pay them on the side for a few years until it is paid off.
I know that in bankruptcy law that if you file and own propert you might lose it. Would I be able to keep this property, or should I be upfront with my parents and tell them that we should just rent it from them until we get this creditor thing taken care of. Any suggestions? -
