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We recently filed Chapter 7, kept our house and HELOC. What will happen to the HELOC if the house gets foreclosed?
Michael's answer
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Answered on August 18, 2011
The HELOC is comprised of both the note (unsecured debt) and the mortgage (the lien). When you file chapter 7 bankruptcy, the bankruptcy discharges...
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Can i be late on my chapter 13 payments?
Michael's answer
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Answered on March 22, 2011
The answer depends first upon the practice in the jurisdiction in which you've filed and upon the trustee. In MN, the chapter 13 trustee gives...
I was discharged in chapter 7 now Ford wants to repo my car since I didn't reaffirm. Is there any way to go back and reaffirm?
Michael's answer
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Answered on March 22, 2011
Most Retail Installment Contract and Security Agreements (i.e., auto loan contracts) have "ipso facto" clauses which state that the contract is...
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