I'm often asked if people can keep their house and car if they file bankruptcy. The short answer is usually "Yes", if they keep making the payments.
(more…)Will bankruptcy stop a foreclosure?
"My house is about to be foreclosed. Will bankruptcy stop that?" I'm often asked that question. The answer is probably "yes", but let's look at a "no" answer first.
(more…)Want to Eliminate Crushing Debt, Stop Lawsuits, or Stop Foreclosure? Consider Bankruptcy!
Do you need to eliminate crushing debt, stop lawsuits, or stop a foreclosure? Our Congress provided bankruptcy as a financial tool for those purposes. Wouldn't it be wise to see if it could work for you?
(more…)What's keeping you from filing bankruptcy?
You're in financial trouble, have considered filing bankruptcy, but haven't taken any steps toward it. What's holding you back? (more…)
Can bankruptcy save my house from foreclosure?
I'm behind in my house mortgage payments and the bank is threatening to foreclose. Can bankruptcy save my house? (more…)
Filed bankruptcy and can't afford to keep your house? How long should you stay in it?
If you filed bankruptcy and can't afford to keep your house (payments too high for your income), how long should you stay there? (more…)
My house is underwater and I'm behind in my mortgage payments. Is bankruptcy a good option?
As you might expect, I hear some version of this question frequently. My
first answer is always "It depends". After that, I ask questions
and discuss the possibilities. The questions and discussion below are a summary
of those conversations. (more…)
Will they take my house if I file bankruptcy? (Part 3)
In this Part 3 of the series "Will they take my house if I file bankruptcy?", the situation is that you're behind on your house mortgage payments, afraid they'll foreclose on your house, and probably in debt for other things. In this situation the question is better expressed as "Can I save my house by filing bankruptcy?". As with many questions about bankruptcy, the direct answer is a strong "it depends".
Will they take my house if I file bankruptcy? (Part 2)
I'm current on my house mortgage payments but am way in debt for other things.
If I file bankruptcy, will they take my house? In Part 1 we discussed what might
happen in a Chapter 7 bankruptcy. Today we discuss Chapter 13, the "payment
plan" bankruptcy. (more…)
Will they take my house if I file bankruptcy? (Part 1)
I'm current on my house mortgage payments but am way in debt for other things. If I file bankruptcy, will they take my house? (more…)
Will I need to file bankruptcy after they foreclose on my home?
I'm not making enough money to afford my mortgage payments and my home will soon be sold in foreclosure. It's worth a lot less than I owe on it. Will I still owe mortgage-loan money after the foreclosure sale, which would mean that I'd probably need to file bankruptcy? (more…)
I am behind in mortgage payments. Can I file Chapter 7, not Chapter 13, and keep my home?
Only if you could pay all the mortgage arrears (back payments) at one time, (more…)
Can Filing Bankruptcy After a Foreclosure Sale Eliminate HELOC, HOA, and Credit Card Debt?
After a foreclosure sale, HELOC, HOA, and credit card (regardless of a foreclosure) debts are generally all unsecured (not secured by a lien on your property). Because of this, these debts can be discharged (eliminated) completely and quickly in a Chapter 7 bankruptcy, which would be the best choice if you qualify for it and if it's otherwise a good thing for you. (more…)
Foreclosed? You may still owe your second mortgage.
If you lost your home to foreclosure in California, you may still owe your second (and other) mortgages. (more…)