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NYLAWLADY
NYLAWLADY, Attorney
Category: Legal
Satisfied Customers: 814
Experience:  15 YEARS PRIVATE GENERAL PRACTICE CIVIL APPEALS, LITIGATION
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We are on the 4th month of not paying on our house; will probably

Customer Question

We are on the 4th month of not paying on our house; will probably be giving up the house July 1 when I move out of the area. Bankruptcy will come after the house is settled by the bank but am wondering how to be sure not to miss all those little debts due to the foreclosure. Want to wait on bankruptcy to include current credit card debt but mainly the loss of the house and all the cost that comes with that loss. How do I juggle the timing on these two important events?
Submitted: 6 years ago.
Category: Legal
Expert:  NYLAWLADY replied 6 years ago.
The receiver in bankruptcy will have a complete list of your assets and they will be paid or prorated according to the amount of money that is owed and the amount of money leftover after the sale of the house. Depending on your state regulations, then whether or not these debts get paid from other assets, will be determined by the bankruptcy court, not you.The bankruptcy will stop the foreclosure on the house so you might want to do that first and let the receiver in bankruptcy deal with the payments.Is there anything else I can help you with? Thank you for allowing me to help you with your question. Please press the "accept" button so I may be credited and paid for my time. Positive feedback is always appreciated .This answer is for informational purposes only and does not constitute legal advice. Nor is an attorney-client relationship established. Thank you very much