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Bankruptcy law provides for the development of a plan that allows a debtor, who is unable to pay his creditors, to resolve his debts through the division of his assets among his creditors... More »


I filed a Chapter 7 bankruptcy that was discharged in 2009. ... When you received the first and second mortgage loans, the lender placed a lien against the house for each loan. ... In your case, the lender may or may not have written off the loan. ... You may be able to settle the outstanding balance for a little more than what ...


Dec 15, 2015 ... If a no-good roofer put a lien on your property after bankruptcy, ... Most of the time , the contractor will remove the lien once payment for the work has been received . ... had no equity in the property or no more than could be protected. ... you may or may not have to set this motion for a hearing before the court.


Debt from a home equity line of credit is discharged in bankruptcy, but the ... Less than $5k ... of debtors who file for Chapter 7 are allowed to keep all of their property. ... foreclose on the lien, and there is a deficiency balance (which may happen if ... paying off the first mortgage, there is little left for the HELOC lender, it has ...


However, the 2nd Mortgage or Heloc would still have a lien on the property. ... Bankruptcy Chapter 7 Discharges the Note or the Loan, but you still have the ... the lien, but in order to do so, it must pay off the 1st mortgage and any unpaid ... and you must get that in writing from the bank before you mail your cashier's check. 4.


HELOC lenders may still have a lien on your home after bankruptcy. ... What Happens if a Bank Discharges a Home Loan During a Bankruptcy? ... Loans secured by your property, such as a mortgage and a home equity line of credit, ... lender, or discharge the HELOC loan in bankruptcy, then the lender still has the right to ...


Mar 25, 2010 ... After chapter 7 bankruptcy, I often advise my clients, just don't pay the ... If the value of your house has dropped below what you owe on the first, that's ... Then you can stop paying the first mortgage too, and move out. ..... If I can get the second lien off my title I have a credit union willing to lend me the 75,000.


Under Chapter 13, you'll have to pay off child support, mortgage and alimony debts, ... If the mortgage is worth more than your house, you can ask the bankruptcy court to ... Chapter 7 bankruptcy doesn't work this way: A HELOC remains secured debt, ... A graduate of Oberlin College, Fraser Sherman began writing in 1981.


Jul 12, 2012 ... I have a HELOC and might be forced to declare bankruptcy...I'm wondering if I can get out of my loan if that happens? ... factors including what type of bankruptcy you are filing and if you plan to keep the house, among others. ... you received the line of credit from holds a lien and can foreclose on you at any.


Oct 12, 2012 ... Our BK chapter 7 case was discharged on 01/2010, Both mortgages ... Write a review .... that has been discharged, you can re-open your bankruptcy case to .... If the debt was not reaffirmed during the bankruptcy, then it was discharged. ... certainly can contact you because of the lien against the property, ...