Surrendering house....
My husband and I just gave the papers to out lawyer today to get our chapter 7 bankruptcy going. We want to give up the house. Will it show on our credit report as a bankruptcy AND a forclosure?? Has anybody heard of creditors actually objecting to a bankruptcy? We aren't behind on the house yet but we're upside down on it. We need to get out of it. Can anybody give me an idea what the process is. Oh, and we are planning on moving to a new house the 1st of January. We found an affordable rental.
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It will show up as Included In Bankruptcy (IIB) or Wage Earner Plan (WEP). it will not show as a foreclosure.Originally posted by jlynnb21 View Post
Creditors only object to either your Plan or Reorganization (in a Chapter 13) or your Discharge (ni Chapter 7). (There are other objections covering things like exemptions and the like).
Most Chapter 7 cases -- especially No Asset cases -- go relatively smoothly.Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
Status: (Auto) Discharged and Closed! 5/10
Visit My BKForum Blog: justbroke's Blog
Any advice provided is not legal advice, but simply the musings of a fellow bankrupt. -
The creditors can only object if the debt it not dischargeable or they suspect fraud.
the link it to a very good sticky on the forum about objection
http://www.bkforum.com/showthread.php?t=20081Chapter 7 07/30/2008
341 09/17/2008
Discharge 11/21/2008Comment
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