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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 19323
Experience:  B.A.; M.B.A.; J.D.
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Can one go bankrupt without losing your house? I am on disability

Resolved Question:

Can one go bankrupt without losing your house? I am on disability and have been able to keep my credit score and payments on everything, but slowly we are getting behind due to the bills encurred while I tried to stay working...borrowing against the house like everyone else. Its too much now.
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  Phillips Esq. replied 5 years ago.
Thank you for giving me the opportunity to assist you. I encourage you to ask me for clarification, if you are not clear with my Answer.

Question: Can one go bankrupt without losing your house? I am on disability and have been able to keep my credit score and payments on everything, but slowly we are getting behind due to the bills encurred while I tried to stay working...borrowing against the house like everyone else. Its too much now

Response
: Yes, you can keep the house so long as you are making payments on your mortgage. Otherwise, if you are behind on your payments and files for Chapter 7, the lender would file a Motion for Relief from the Automatic Stay to obtain the permission of the bankruptcy court to proceed with the foreclosure of your home.
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