Illinois bankruptcy
This is a discussion on Illinois bankruptcy within the Consumer Bankruptcy forum, part of the BANKRUPTCY & DEBT COLLECTIONS category; Moved to Illinois in 2007 for a job but still own our first house in Florida and it's paid off, ...
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Moved to Illinois in 2007 for a job but still own our first house in Florida and it's paid off, have mortgage in Illinois. In the next 6 months or so, we might have to file bankruptcy if I can't get the credit card people to stop increasing my interest rates from 7.9% to 24.9%. We are still making more than the minimum payment but with that kind of increase it's getting to be impossible to make even the minimum payment. The only thing left to us is bankruptcy since we can't sell our land in Florida due to no buyers. My question is this: If we sign our property over to our 20 year old son but later file bankruptcy can the creditors go after the Florida property that would then be my son's?
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