QUESTION
Can a case be re opened if I filed almost 10 years ago?
Asked on Jul 22nd, 2013 on Bankruptcy - Missouri
More details to this question:
My intentions were to keep my home out of bankruptcy. Per my lawyer, if I did that I would need to reaffirm my equity loan so I did. Years later I found out my home got included in bankruptcy and because I reaffirmed the equity loan (now unsecured debt) they are suing me. If I knew my house was included in bankruptcy, I would not have reaffirmed the equity loan. This was a huge error that someone should have caught. Any advice? P.S. My attorney passed away last year.
11 ANSWERS
Trusts & Estates Attorney serving Camarillo, CA
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Law Offices of Larry Webb
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Probably. Ouch, you should never reaffirm a real property loan. Reaffirmation is a new obligation that is approved by the court. You may be able to file a new bankruptcy, need more facts. It is a very common misunderstanding about what is "in" a bankruptcy. Basically EVERYTHING is in your bankruptcy. Secured debts receive different treatment, but the secured debt is in the bankruptcy.
Answered on Jul 31st, 2013 at 9:10 PM
Litigation Attorney serving Stockton, CA
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Patrick Jay Edaburn
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Once a debt has been reaffirmed then it is not possible to put it back in the bankruptcy.
Answered on Jul 30th, 2013 at 8:59 PM
Let's clarify a few things first. When you file bankruptcy, it is your legal duty to report all of your assets and all of your debts. There is no way "to keep a home out of bankruptcy" in that sense. It had to be listed as an asset and the mortgage included as a debt. By reaffirming the debt, you (in a sense) took it back out of the bankruptcy by agreeing to be treated by the lender as if you had never filed. This meant that if they took the home and sold it for less than you owe, they can sue. At this point, the bankruptcy is irrelevant to your situation. Whether reaffirming the debt was a mistake, or not, is relative. In hindsight, since you are now being sued, maybe you shouldn't have signed one on an equity loan. You may want to consider refiling rather than trying to reopen such an old case.
Answered on Jul 30th, 2013 at 8:59 PM
General Law Attorney serving Cherry Hill, NJ
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Mark S. Cherry, Attorney at Law, PC
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Too late for the old bankruptcy but you may be eligible for a new filing but first determine if the lawsuit against you is a foreclosure action in equity court or a civil action in the law division. The equity action is a lawsuit to seize the collateral. The civil action is for money.
Answered on Jul 30th, 2013 at 8:59 PM
Criminal Law Attorney serving Farmington Hills, MI
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Stephen Linden, PC
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Maybe you should consider a new bankruptcy filing.
Answered on Jul 30th, 2013 at 8:59 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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If you filed in Arizona then I doubt you reaffirm the equity loan.
Answered on Jul 30th, 2013 at 8:59 PM
Real Estate Attorney serving Potomac, MD
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Shulman Rogers, P.A.
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Attempting to reopen the case would likely be a waste of time. Since you filed 10 years ago, you are eligible to file a new case, which can likely take care of the problem. I would recommend contacting an attorney for a consultation to determine if filing a new case is your best option.
Answered on Jul 30th, 2013 at 8:59 PM
Personal Injury Attorney serving Glendale, CA
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JT Legal Group
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My advice is pony up some money to have one of us take a look at what happened. Your account of events makes it sound like you're missing some pieces.
Answered on Jul 30th, 2013 at 8:59 PM
Debt Settlement Attorney serving Chicago, IL
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Law Offices of Daniel J. Winter
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No, you cannot reopen your case for this reason, in my opinion. You should come in to speak with an experienced bankruptcy attorney to see exactly what happened in the last case, and to discuss your financial situation. You may just need to file another Chapter 7 Bankruptcy, if you are eligible.
Answered on Jul 30th, 2013 at 8:59 PM
Bankruptcy Attorney serving Walnut Creek, CA
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Alan E. Ramos Law Offices
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When you file a bankruptcy petition, you MUST include ALL of your assets and ALL of your liabilities. There is no option to omit any assets or liabilities. Your attorney had no choice but to include the house and the debt related to the house. For a loan to be reaffirmed, you were required to sign a reaffirmation agreement. If you did not sign a reaffirmation agreement, there was no reaffirmation and you would not have any obligation for the debt. If you did sign a reaffirmation agreement, you have the obligation to pay the debt.
Answered on Jul 30th, 2013 at 8:59 PM
Bankruptcy Attorney serving Florissant, MO
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Law Offices of Thomas Corcoran Phipps
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You can file a motion to reopen, but it is probably too late.
Answered on Jul 30th, 2013 at 8:58 PM