I have filled out 90% of my Chapter 7 forms and I'm not sure how to treat my foreclosure. Bank of America foreclosed on August 2, 2011 and did not file a deficiency. The house is no longer in my name. I want to list BoA to cover myself but I don't know if it is considered a secured claim or not. I have the same situation with a car repo that happened in January. That company has sued me in Superior Court and I have filed an answer to drag it out a bit until I actually file the BK. I just don't know if, since the collateral is no longer in my name, if they are still secured. Thanks in advance for help and input.
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Is a foreclosure before BK considered a secured claim?
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You would list them as an unsecured creditor on Schedule F. The amount you would list is $1.00 and you could mark and list the reason as "unliquidated" and "disputed". Same for the car. These are both unsecured claims. (Except for the car, if there is an amount that is known, list that amount.)Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
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Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.
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