I own a house. Can I file for bankruptcy?
The answer may be YES. There are certain situations which will still allow
you to file for bankruptcy and receive a discharge under Chapter 7 of the
Bankruptcy Code, even if you own a house. E.g., if you held your real
estate with your spouse as tenancy by entirety (TBE), your spouse is not
filing for bankruptcy and there are no joint debts (other than the
mortgage on the property). Also, if there is no equity in the house then
the chances are, the Trustee will not be interested in your property. If
both of those circumstances do not fall under your unique situation then
you may be able to file under Chapter 13 of the Bankruptcy Code.