can i keep my house?

[brokendown]

I have 25,000 in credit card debt. My house is worth 80,000... i owe52,000 on it. If i file ch 7 in ohio will they take my house from me to sell it to pay the 5 credit card companies back?

[shardena]

answer

You may not be bale to file a chapter 7. SInce you have alot of equity in your home. The new bankruptcy law may force you to have to file a chapter 13.

[HHM]

What is the equity exemption in Ohio.

As for the new BK law, the new law caps the exemption at $125,000 if you have lived in your house for less than 1215 days.