sometimes but barley ever
Yes he can file for Bankruptcy if he wants to depending on the situation of his property.
Yes you can file bankruptcy. However the "rent to own home" is not owed by you and is still owned by the "landlord". You can continue with the "rent to own" or walk away. Bankruptcy is an entitlement to citizens for debt relief
yes
No
Yes
Chapter 7 is a liquidation bankruptcy, you are giving up your assets. If you want to keep your home and car you would need to file a Chapter 11 Bankruptcy.
Sure.
yes
You need to start off by talking to your bankruptcy experts. They should be able to help.
It depends on which "chapter" of bankruptcy you file. I suggest you speak with an attorney to see what you can do.
Generally you have to list your home as an asset. But there are different kinds of bankruptcy, and if things work out, your home ownership could be protected. See a bankruptcy lawyer!!
They can include it, but the creditor/landholder can file a relief of stay to have the debt excluded from being discharged in the bankruptcy. The decision of what debts are to be discharged are determined by state and/or federal law and the bankruptcy judge.