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My teenage children live with my ex in the only home that they have known.

She is making noises about bankrupcty.

Value of her house 85K
Mortgages 23K
Actual Equity 62K

Credit card debt 40K
Student loans 18K

The homestead exemption in this state is 25K
Student loans are not forgiven in bankrupctcy.

Will the bankrupcty court sell the house?
Does she get to keep the 25K in exemption?

Will the credit card companies attempt to take back some of the high priced items that she charged?(TV, video camera)

What about my daughter's $1800 piano which was purchased for cash five years ago.

I could care less about the ex but this will be tough on the kids.

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