Keeping my house and car in chapter 7

[mriowa]

What is the name of your state? I live in Iowa. I am setting up to file chapter 7 bankruptcy in a week or two. My only concern is my house and my car. Here is my situation. My wife and i own our home. Both names are on the title but only her name is on the mortgage. I am the only one filing because of my credit card debt. We plan on keeping the house for we are current and have only had it for a few months. My wife is not listed on any of my credit cards so it will just be me filing. Will i have any problems keeping the house or will it be exempt. Also i have an auto with a loan out on that as well. But now i am only the co-signer on this loan with my father being the main signer. This too i am going to keep for i have never even been late with a payment on that. I still owe about 5,000 and i would say it is valued at about 6,000. Will there be any affects of me filing on these two properties? Again i am the only one filing my wife is not. I have a horrible credit card debt and I can't handle the lateness and the collections amounts on them any longer. please help with my question.

 

[Ladynred]

Will i have any problems keeping the house or will it be exempt.

IA has a 100% exemption for homestead - its safe no matter what.

But now i am only the co-signer on this loan with my father being the main signer.

This could be sticky, as it may impact your father since he's the primary on the loan. You would have to list this debt as contingency, unliquidated because you are only liable IF your father defaults. Its possible your BK could wind up on his credit report - but he should also be able to dispute it off.