QUESTION

do you loose your house in a chapter 13?

Asked on Aug 26th, 2011 on Bankruptcy - Utah
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Bankruptcy Attorney serving Burbank, CA
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In general, you do not lose any assets in a Chapter 13.  The trade-off is that you must pay out to your creditors at least as much as they would get in a chapter 7 liquidation. However, if your house has mortgages against it and you fail to make the required mortgage payments, then the creditors can seek permission from the bankruptcy court to foreclose on the property. I hope this answers your question. Mark J. Markus, Attorney at Law Handling exclusively bankruptcy law cases in California since 1991. http://www.bklaw.com/ bankruptcy blog: http://bklaw.com/bankruptcy-blog/ Follow Me on Twitter:  @bklawr
Answered on Aug 27th, 2011 at 9:19 PM

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