If I file for bankruptcy will I lose my house?
2006-08-25 07:06:27 · 14 answers · asked by Anonymous in Business & Finance ➔ Credit
no but you should. don't buy things you can not afford
rr
2006-08-25 07:11:46 · answer #1 · answered by Anonymous · 0⤊ 2⤋
Not if you can structure a deal where you can still make the payments. But bankruptcy can take away the grace period that foreclosure gives you. If the bank forecloses, many times you have 6 months or so to get caught up. If you go bankrupt, and you're late on even one payment, the bank may give you 30 days to get out, and give you no way to make it good.
2006-08-25 14:12:19 · answer #2 · answered by Ralfcoder 7 · 0⤊ 1⤋
No, but filing for bankruptcy will put a lean on it that will make it very hard for you to get out from under. Try not to do so.
2006-08-25 14:12:32 · answer #3 · answered by redhotboxsoxfan 6 · 0⤊ 1⤋
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2006-08-25 15:45:21 · answer #4 · answered by Anonymous · 0⤊ 1⤋
Not usually. the courts understand these things and are willing to work around it. If he/she decides the house is above you than you may lose the house or be forced to sell it. your lawyer will know better though
2006-08-25 14:12:06 · answer #5 · answered by billyandgaby 7 · 0⤊ 1⤋
Depends on what chapter you file. They just changed the laws. Ask a lawyer.
2006-08-25 14:12:41 · answer #6 · answered by mesosmart 1 · 0⤊ 1⤋
Not necessarily. The lenders will be happy to allow you to keep your home because you cannot file again for 15 years.
2006-08-25 14:11:09 · answer #7 · answered by Anonymous · 0⤊ 1⤋
No, most all states have what is called a homestead exemption that shields your house. You could lose some savings (if you have any)
2006-08-25 14:12:13 · answer #8 · answered by Anonymous · 0⤊ 1⤋
No, go through a lawyer of course, and you will not lose your house or car.
2006-08-25 14:12:10 · answer #9 · answered by Okkieneko 4 · 0⤊ 1⤋
No , you can kinda pick and chose what your filing on, you can keep your house , your car or what ever you want to keep.
2006-08-25 14:26:51 · answer #10 · answered by Anonymous · 0⤊ 1⤋
Lots of info here.
2006-08-27 15:22:42 · answer #11 · answered by Anonymous · 0⤊ 0⤋