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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction
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To: Selectric II who wrote (13910)8/21/2004 11:41:56 AM
From: Alan Smithee  Read Replies (2) of 90947
 
If it came to losing his brand-new addition, I think he would file bankruptcy first, to save the house and what he can of the business and other assets. You don't know what other steps he might have taken to shield assets from creditors, and it might turn out that they get diddly and he skates.

It all depends on what Orca's personal financial situation is. If he has sufficient equity in his house, the Chapter 7 trustee will sell it. There is no federal bankruptcy exemption for one's home.
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