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Date: Sat, 06/19/2010 - 07:24
If ch7 is filed and relief of stay was granted prior to the discharge, will the debtor then be responsible for the balance? A second mortgage is also involved, will it resurface if payment arrangements are made with the 1st.
Sounds like a question you need to ask your bk attorney.
Sounds like a question you need to ask your bk attorney.
Whenever you file bankruptcy the automatic stay comes into effec
Whenever you file bankruptcy the automatic stay comes into effect. In chapter 7 bankruptcy, the trustee sells all the non exempt assets of the debtor to pay off the creditors. Filing chapter 7 results in loss of property. After the discharge of the bankruptcy you will not be held responsible for the debts.
As for the second mortgage, can i know if it was included in the bankruptcy? For better advise you can discuss this with your bankruptcy attorney. I think if you don't reaffirm a mortgage, the lender can foreclose your property.
