Can I file bankruptcy right before the eviction notice date? When is the right time to file bankruptcy? Once I file the bankruptcy, how long I can stay in the house and eventually leave the house?
Right before the eviction notice is not a good time as you would have to deposit money into the bankruptcy court to prevent the actual eviction as the owner would have already received a warrant of eviction. How much time you will get will depend upon where the bank is in the foreclosure process.
If the eviction was already granted, the creditor can immediately file a Motion for Relief from the automatic stay to get Bankruuptcy Court approval to proceed with the eviction. The time to file bankruptcy appears to be now given your stressful living situation. If the eviction was granted, is the new owner pushing you hard to vacate? Did the Bank buy it back? There are too many variables to answer your questions. Consult with a bankruptcy lawyer in your jurisdiction.
This answer is general and is not intended to create an attorney client relationhsip and is for informational purposes only.
Yes you can file a bankruptcy before the eviction notice date. An automatic stay of collection activity goes into effect immediately upon the filing of a bankruptcy petition.
What happens after depends on whether you file a Chapter 7 or Chapter 13. It appears from your post that you are filing a Chapter 7 and will abandon the house to the creditor. The mortgage lender can apply to the court after the bankruptcy is filed to lift the stay in order to continue the eviction. You can maintain your occupancy of the house for weeks or even months.
Yes you can but you are better filing sooner and saving your money for the future.
Answers are provided for direction only; it is not a substitute for an office consultation.
I can't specifically answer your question without getting more facts, and I can't give you legal advice without being retained, but I can say that generally it is very common that people file for bankruptcy to prevent or "stay" a foreclosure procedure. Once in bankruptcy, you then may be able to modify your mortgage and save your home through the court's loss mitigation program. As far as when the right time to file is, that can't be answered here. There are many factors that have to be taken into consideration - your income over the lasts six months, for example, and whether it would be advantageous to wait another month or two to file if your income is going down - and only a good, experienced bankruptcy attorney familiar with all the facts of your financial situation would be able to advise on that. Good luck.
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