Execution of Property

[skid14]

Hi,

my family has a 23,000 debt, which was ordered to be paid to a company from a trial court.

The sheriff delievered an execution of deed to my house the other day.

What happens from here? Are we protected under the homestead act? If we file bankruptcy now will our house be saved?

Thanks

 

[JohnMacek]

What state are you in? Homestead Exemptions usually only protect your home up to a certain value, but it really depends on what state you are in. Since you have been served with a Writ of Execution, your time to act is limited. I would contact an attorney knowledgeable in property law in you area ASAP. Bankruptcy will give you an automatic stay on the execution/enforcement/collection of all of your debts. Your attorney will advise you if that is the best option.