Keeping Your House With Chapter 7 Bankruptcy
February 15th, 2010
You can keep your house in a Chapter 7 bankruptcy if you’re current on your mortgage. If your current you can continue to pay the secured debt in a Chapter 7 bankruptcy will getting rid of all your unsecured debt such as credit cards and medical bills etc. if you’re behind on your mortgage and don’t want to keep the house, then you can surrender the house of the creditor in a bankruptcy. By surrendering a home in chapter 7 bankruptcy you limit your financial exposure to the creditor in the future to the amount that they can get from selling the house. The decision on whether to keep the house is one that should be made after really taking the time to think about it and considering your future finances.
Entry Filed under: Business