Right now I am current on my house payment,but wont be able to make Feb's. I am in Fla and planing to file in Feb, looks like its going to be an assest case due to my bussiness. question is will credit union be able to foreclose while waiting to be discharged or will this put things on hold with them?
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If you're filing in February but are now current on the payments, then you should not have any problems. You're going to start getting calls/letters when you hit the 30 day late mark, but until then, it should be pretty peaceful.All information contained in this post is for informational and amusement purposes only.
Bankruptcy is a process, not an event....... -
The lien holder of the property will not be able to foreclose the loan while in current BK, unless the lender will file a motion to lift the stay (most likely before the discharge) in order to proceed with the foreclosure. The "hold on them" will be brief though. BTW, once the discharge is ordered, the automatic stay is terminated and there won't be a need to file the motion to lift the stay. And as frogger states, it should be pretty peaceful.Bankruptcy History:
Chapter 7 filed - 10/12/2005 - Asset
Discharged - 02/16/2006
Case Closed - 11/08/2007
A banker is a fellow who lends you his umbrella when the sun is shining and wants it back the minute it begins to rain ~ Mark Twain
All suggestions are based on personal experience and research and SHOULD NOT be construed as legal advice as I am NOT an attorney. Always consult with competent counsel in your area with regards to your particular situation.Comment
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