QUESTION
Do I have to pay for my deficiency balance after filing bankruptcy?
Asked on Feb 13th, 2012 on Bankruptcy - Indiana
More details to this question:
I live in Indiana and have a mobile home that we voluntarily surrender in December. If I file for bankruptcy after they give me the deficiency balance can they sue me for the balance?
1 ANSWER
In Indiana, after collateral is sold, the "judgment-creditor" can sue you for the difference between what you owed and what was netted from the proceeds of sale. Bankruptcy can eliminate (Chapter 7) these deficiency judgments.
Answered on Feb 27th, 2012 at 12:52 PM