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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2820
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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Type your question here.Can there be arrearages in a bankruptcy

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Type your question here.Can there be arrearages in a bankruptcy case. My loan company said, after I was out of bankruptcy, that I did not make a payment for one month in 2004. I think this is fraud on there part. They have refused to take any payment since 2008. I had a attorney in 2008, we went to court. After we went to court, there attorney quit communicating with my attorney. Now they want the house.
Submitted: 6 years ago via Cornell Legal Info Institute.
Category: Bankruptcy Law
Expert:  Terry L. replied 6 years ago.
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Terry L. :

Hi and thank you for your question. In the future, you can request me to answer any further questions.

Terry L. :

Did you file chapter 13 or chapter 7?

Terry L. :

If you filed chapter 7, it is your obligation to make all mortgage payments that were and that come due. If you were behind, you must catch up if you want to keep the home. the bankruptcy will not discharge what you are behind and let you start from the case filing onward in chapter 7 if you want to keep the home.

Terry L. :

Chapter 13 can cure arrears thru the case, all past due amounts paid thru your plan up to the date of case filing. You would be responsible for all post-filing payments either directly or included in the plan payment figure.

Terry L. :

If they said you missed one payment, you should have them provide an accounting of all payments made so you can verify with your bank records if this is true. If so, future payments are applied backwards, so that you will always be behind until you cure that payment, incurring late fees and penalties as your contract allows.

Terry L. :

If they are in error, you will win and the fees/costs should be waived.

Terry L. :

You will need to tender all payments to your lawyer to bring current if you wish to have the foreclosure process dismissed.

Terry L. :

You may want to also consider loan modification to tack the amounts behind to the end of the note, bringing you current.

Terry L. :

Otherwise, chapter13 can help you cure that default and bring it current over a 3-5 year repayment plan .

Terry L. :

Thanks for your question, good luck .

Terry L. and 3 other Bankruptcy Law Specialists are ready to help you
Expert:  Terry L. replied 6 years ago.
good luck and thanks for your question. if you have any more, feel free to reply or request me. thanks