If a Chapter 13 Bankruptcy has been filed and the Chapter 13 Plan that is submitted to the Bankruptcy Trustee provides that any overdue amount on the house will be paid through the Plan (along with at least a portion of other unsecured debts), then so long as the debtor remains current on the mortgage payments while making the payments agreed to under the Chapter 13 Plan, the Trustee will most likely not be permitted to force a sale of a house.
Bankruptcy Questions
Answers to Frequently Asked Bankruptcy Questions
If My Ex-Spouse Files Bankruptcy, Do I Lose the House Still Deeded in Both of our Names?
A spouse’s bankruptcy filing does not transfer ownership of any property also held by any non-debtor co-owner. So any action by the Bankruptcy Court will not affect a the share held by a spouse.
Are Pay Stubs Submitted with a Bankruptcy Filing?
Pay stubs for the 30 days prior to filing should be mailed to the Trustee assigned to the bankruptcy case, to the address of the District Bankruptcy Court hearing the case. While the stubs do not need to be provided at the time the petition is filed, these pay stubs should be mailed as soon … Read more
Can a Wife Quitclaim Property from the Married Couples’ Names Back to Her Maiden Name to Protect the Asset?
A currently-married woman cannot transfer property to her maiden name (which is no longer being used) simply to avoid losing the property to a judgment in a current or potentially upcoming litigation.
Must I List My Spouse’s Assets and Income in My Individual Bankruptcy Filing, and Can the Trustee Liquidate Those Listed Assets?
A spouse’s income must be reported in a married person’s individual Bankruptcy filing, on the Means Test. But listing income or asset information from the spouse does not give a Trustee free reign to sell off assets.
What is Deed in Lieu of Foreclosure?
Generally, the phrase ‘deed in lieu of foreclosure’ explains the process more so than any actual deed itself.
Where Should I File Bankruptcy if I Just Moved to a New State?
If a debtor has recently changed his or her state of residence, the debtor may file in the state in which he or she now lives, but may need to utilize the exemptions from the state in which he resided prior to the move.
Will I Lose My House if I File Chapter 7 Bankruptcy?
Depending on your state of residence, an income level of less than $50,000 may permit you to file a Chapter 7 Bankruptcy case.
If a Debt is Sold During Bankruptcy, Must the New Holder Follow Discharge Rules?
In general, and assuming that the original debt is listed on the debtor’s bankruptcy petition and schedules and that the debt itself is otherwise subject to discharge, the purchaser of the debt would be subject to any discharge order received by the debtor through the bankruptcy case and the debt would not be collectable.
Can a Power of Attorney’s Attorney-in-Fact Sign Bankruptcy Documents on Behalf of a Grantor?
“Ask Standard Legal” is not aware of any situation where a Power of Attorney can be used by the attorney-in-fact to sign a Bankruptcy petition on behalf of the grantor.