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WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17252
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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My house is scheduled for an auction tomorrow and my real estate

Resolved Question:

My house is scheduled for an auction tomorrow and my real estate agent advised me to file a BK to stop foreclosure and within a week he will revert it.
Will filling BK appear on my credit report? He said that it won't but I wanted to get professional advice.
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 5 years ago.

WALLSTREETESQ :

Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarificati on.

WALLSTREETESQ :

If you are filing a personal bankruptcy, it will stop the foreclosure, but the filing would remain on your credit report for 10 years,

WALLSTREETESQ :

however in reality, if your home is foreclosed, that will also be on your credit report, and in some instances would be worse for your credit than a chapter 7 filing,

Customer:

Thanks for your answer. Is there way to prevent BK filling appearing on my credit report?

WALLSTREETESQ :

No, their is no way for it not to appear,

WALLSTREETESQ :

the problem you have is that if the sale is thursday, you have to file the bankruptcy today or thursday early morning to stop the sale, so you need to decide,

Customer:

Okay, thanks for your advice. I will probably let it go as I don't have other debts.

WALLSTREETESQ :

If you have any further questions please do not hesitate to ask

WALLSTREETESQ :

Than you have to make sure that after the foreclosure, the bank can not sue you for any balance. If satisfied please press the accept button so we can receive credit,

WALLSTREETESQ and other Bankruptcy Law Specialists are ready to help you