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Can you lose your house if you declare bankruptcy?

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βˆ™ 2008-12-09 11:20:54

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Usually they cannot take your home or one automobile. See if you can get some help from a non-profit credit assistance group so you don't have to declare bankruptcy. Check with the court house or through local churches for information or an attorney. Your assets in bankruptcy is depedant on which country you reside in. Most commonly your home will be sold to meet creditor debts and you will lose control of your finances.

2008-12-09 11:20:54
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Q: Can you lose your house if you declare bankruptcy?
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Related Questions

Can you declare bankruptcy and still keep your house?

It depends. If you declare bankruptcy on another house while you are living in your formal house, no you don't lose your formal house. If you declare bankruptcy on your formal house, you get your house foreclosed, or taken away by the bank. ----

Can you work after you declare bankruptcy?

Yes, you are not required to be unemployed to declare bankruptcy.

Can you lose your house if your husband files for bankruptcy?


How does one declare bankruptcy?

One can declare bankruptcy by getting a lawyer and having them help you declare. You can also go to the bank and asking a manager for help declaring bankruptcy.

Do you have to declare bankruptcy on all credit cards?

Yes. If you declare bankruptcy you must declare all cards, loans, assets and debts.

How can a person declare bankruptcy?

First thing you need to do if you want to declare bankruptcy is get credit counseling and see if this is what you should do. If you do decide to declare bankruptcy you need to file with the courts. Bankruptcy doesn't take away all debts such as child support.

Did the US declare bankruptcy?


Is it possible to just declare bankruptcy on credit cards?

You can declare bankruptcy due to credit card debts, yes.

When is it necessary to declare bankruptcy?

It is necessary to declare bankruptcy when a person cannot afford to continue paying for bills and other things they need. A person may declare bankruptcy if their business is not making any money.

Did auction house Kruse international declare bankruptcy?

According to the news, Kruse International has not filed bankruptcy. Whether there is any money left is anyones guess.

If your house is paid for will you lose it if you claim bankruptcy?

yes another answer: you can't lose your primary residence; also - homestead it.

Can banks declare bankruptcy?


What does bankruptcy allow congress to do?

Bankruptcy is a process where a business or an individual can declare themselves unable to pay their debts. Although Congress itself cannot declare bankruptcy, it formulates the laws that govern it.

How does a person declare bankruptcy?

A person will have to hire an attorney if they want to declare bankruptcy. An attorney will be able to guide each person through the process

How long after the first bankruptcy you can declare a second bankruptcy?

It takes seven to ten years after you initially declare bankruptcy for it to drop off your credit report, and you really should wait at least 1-2 years after that to declare again I hope that helped.

Will you lose your house if you consider bankruptcy?

You can keep the house if you pay the enquity in your house to the trustee and if the mortgage company itself agrees. You can also consider some bankruptcy alternatives read more here

Can an elected official declare bankruptcy?


Did Iceland declare bankruptcy?

wanna do city

When did the United States declare bankruptcy?

In 1933

Who should be aloud to declare bankruptcy?

he goverment

If someone is in a rent to own agreement and files bankruptcy will i lose my house?

You will not lose your house unless there is a large amount of equity in it. You will need to reaffirm your rent to own agreement, however.

Can you just declare bankruptcy on your home?

No. You do not "declare bankruptcy" ON anything. You declare bankruptcy when you cannot pay your bills as they come due. You must list all your assets and all your debts. What happens after that depends on which title you are filing under, chapter 7, 11, 12 or 13.

How do you get bankrupcy off credit report?

If you didn't actually declare bankruptcy, you can report the error to the credit bureaus. If you did declare bankruptcy, you'll have to wait for it to age off.

Can my house be repossessed if my husband is madebankrupt but is not on the deeds?

Your husband's name is not on the deed, but is he on the loan? If yes, then it cannot be foreclosed and repossessed if the property is listed on his bankruptcy filing, and, as long as his bankruptcy payments are current. If he defaults on bankruptcy payments, then you can lose the property. If he is not on the loan, then your house can be foreclosed and repossessed.

Should you Buy GM stock now?

5/30/09 If you want to lose your money, you have a better chance in Vegas. After GM declare bankruptcy the stockholders are the last to be paid, which mostly likely be nothing. Wait until after the bankruptcy.