Help me about NJ Bankruptcy Law in my case

Edwards Finance > Loans

Q. My 78 yo mother has hospital and credit card debts that is taking all of her money because of the interest. She can no longer pay her bills and is afraid to go bankrupt because she gave her house to my brother last January after no bank would give her a loan ( debts too high ) so my brother got a loan in his name to pay off medical bills incurred while her husband was on life support ( he died 6/7/01 )... she is afraid the court will make my brother return the house and he can't afford the loss. We give her about $400 a month to pay her bills but it is starting to pull us down. What can we do ? Friends have told her she must wait 2 yr. after giving the house to her children. This is a very proud lady and wants to do the right thing but the strain on her is awesome. Help me about NJ Bankruptcy Law in my case.

A. She needs to speak with a bankruptcy attorney instead of friends. For example, the transaction with her son might not affect her ability to keep the house. I have written a Bankruptcy FAQ which should answer many of your questions about what is involved--it may be found at http://users.erols.com/lawyer/FAQ/br_faq.htm. I strongly recommend speaking with a local bankruptcy attorney. Most offer free initial consultations and he or she should be able to review your specific situation and let you know what you can and can't do.

Ask Edwards a Finance Question

Other Questions:

Bankruptcy, Chapter 13: selling a house.

I try to buy a house from a seller who filed chapter 13 bankruptcy last year here in NY. (Unfortunately I discovered this fact just recently). His plan is set up for 60 months and he made payments for less than one year. Everything is pre...

Here's the story: A few months ago, I had met with an attorney to discuss filing for Chapter 13 and it was determined that I was a definite candidate. I decided to put it on hold because I was currently paying 12% interest on my second mortg...

Over 80 Little-known Banks & Companies that offer Bad Credit Loans, Bad Credit Home Loans, Bad Credit Auto Loans, and Bad Credit Personal loans to people with Bad Credit or even a Bankruptcy. Many require absolutely NO COLLATERAL & NO CO-SIG...

I have a quick question. I signed on with my wife for an ATV from yamaha card. She was the main signer. I co signed. I declared bankruptcy 2 years ago. If she declares it now,can they come after me for payment? If so,will I have to pay...

I filed bankruptcy about 20 years ago. I received a call from a collection agency for Chemical Bank today telling me I owe a huge amount of money on a visa card from about 20 years ago. This is the first I have heard from them in all that tim...

Edwards Finance Menu

Ask a Question
About Us / Me
Contact Me
Privacy Policy

Sitemap

My Favorite Sites

PFBlog
Google Finance
Yahoo Finance
Motley Fool
Nveille's Financial Blog
AllFinanceMatters
Free Money Finance
2MillionBlog
The Terror Finance blog

Q&A Subjects