Due to the loss of income I am force to file chapter 7 bankruptcy. Would I lose my home if I filed?
If I make the monthly payments each month.
Bankruptcy will stop a foreclosure, you will still have to make your payments if you want your property. I know automobiles can be in a bankruptcy plan, I'm not sure about a house I think the foreclosure cost and taxes can be included in a plan. I recommend you seek the advice of a lawyer to help you decide what chapter to file, the first visit is free most of the time try calling 1-800-bankrup. I see this on road side signs all the time, I'm not a lawyer my answer to your question would be to talk to a real lawyer. Something as important as your home should not be left to chance, you really need legal advice I hope this helps.
Generally if you are current on your home and there is no equity in your home or the equity is protected by the bankruptcy exemptions, then you should be able to keep you home. You should continue to make your monthly mortgage payments and keep current on your mortgage in order to keep your home in the bankruptcy. This hub article provides more information about common myths about bankruptcy that may be helpful:
Chapter 7 is mainly useful, when the residence comes into play, for putting off foreclosure for a few months. Chapter 13 is very much about keeping your house, so if that is your biggest concern you should try to qualify for that if you can. As scia mentioned if you are current on the home then it does not matter.
Contact the Bankruptcy-Insolvency in the UK for more information.
by disneygirl123 7 years ago
what do i do with my home if it included in the chapter 7 bankruptyIf my home is included in chapter 7 bankruptcy do i just pack up and move???? if i have stayed there for a year making payments and now i want to leave because it is worth way less that what i owe, what do i do ?? and can i...
by Research Analyst 6 years ago
How to File Chapter 7 Bankruptcy?
by foreclose1 6 years ago
Is there anything I can do after I lost my home to foreclosure to get it back?I file for bankruptcy and still lost my home, the lawyer call me on March 23,2012 to let me know that she file call Quality Loans and she stop the sale and even said congratulations, 2 days after I have this man come to...
by Julianna 6 years ago
After foreclosure how long do you have to wait before purchasing the next home?
by Research Analyst 6 years ago
How to remove a Bankruptcy from your Credit Report?
by Nerdjoy 13 months ago
Does paying creditors in a chapter 13 bankruptcy start my SOL over?I was dismissed from my Bankruptcy. My creditors now have the right to pursue me again. Does the last payment I made to them start the SOL over to that date? I noticefeom the time I stopped making payments to going into the chapter...
Copyright © 2018 HubPages Inc. and respective owners. Other product and company names shown may be trademarks of their respective owners. HubPages® is a registered Service Mark of HubPages, Inc. HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.
|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|