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Is my attorney's failure to file chp 13 ontime considered a form of legal malpractice. THe whole purpose of the filing was to prevent sale. Note, the home was upside down.
OK, then the simple answer is yes, it does count in the unsecured "pile". However, this is a tricky thing nowadays! Here's why: In a Chapter 13, the creditor will file a claim indicating the collateral (house) is worth what's owed on it, thus making it fully secured (even when you can't sell it for that). In a Chapter 7, in some Districts, the Trustees are taking control of the bank-owned properties to redeem due to underbidding by the banks at the f/c sale. Therefore, you owe it to yourself to contact an attorney licensed in your state to find out for sure what's going on where you live; what the trends are. You may be fine - i.e. not have to list any of it as unsecured! :)
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