QUESTION
I filed bankruptcy 4 months ago, why did the bank force me to sign my house over to them on Thursday?
Asked on Aug 29th, 2015 on Bankruptcy - Kentucky
More details to this question:
I filed bankruptcy but bank still took our house, why didn't the bankruptcy protect us from losing house. I signed it over on Thursday the 27th of August 2015 do I have 48 hours to back out of the agreement, I felt coerced by the bank mediator and he threatened us with dire results from the judge if we didn't sign. We said we wanted to get a lawyer, he said we should of done that earlier and it was too late. We told him we had some questions that needed to be answered and he told us the judge would rule to put us on the street in 48 hours if we didn't sign. So we signed, now I want to back out of this contract. Thank you.
6 ANSWERS
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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I don't have any details on your bankruptcy. Generally speaking in order to force you out of your house, the bank needs to file a foreclosure action which can take years.
Answered on Sep 07th, 2015 at 12:42 AM
Derek W. Freeman
In order for the bank to take any legal action on your house during a bankruptcy, it would have had to file a motion for relief from stay. If you're represented by an attorney in your bankruptcy case, your attorney would have gotten notice of this filing. If you're pro se, you should have gotten a notice. Of course, your bank wouldn't have filed anything if it didn't know about the bankruptcy case in the first place. Did you include the bank in your list of creditors? If you did, and if the bank didn't file for a motion for relief from stay, then their actions forcing you to sign over your house were in violation of the bankruptcy's automatic stay. You need to file an adversarial claim in the bankruptcy court alleging a violation of the automatic stay. If the court agrees with you that the bank violated the automatic stay, then it will likely order that the agreement you signed is null and void. The court may also order damages be paid. If you have an attorney representing you, part of the damages could be attorney's fees. If you're not represented by an attorney, you need to retain one immediately. If you do nothing, the bank will be able to enforce the agreement you signed, because the bankruptcy court can't rule on anything it doesn't know about.
Answered on Sep 04th, 2015 at 11:11 AM
You feeling a certain way does not convince me that you actually were forced to do something. Frankly, something about your description just does not add up. But if you filed bankruptcy 4 months ago, your bankruptcy may now have been concluded and you no longer enjoy the protection of the bankruptcy court once a discharge has been entered. The mediator was right about one think it is too late for you to get a lawyer know that the party is over.
Answered on Sep 03rd, 2015 at 1:25 PM
Bankruptcy does not protect you from creditors seizing secure assets such as cars and houses. Did you do your BK yourself without an attorney to explain things to you? Bad move...
Answered on Sep 02nd, 2015 at 9:37 PM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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Get hold of an experienced bankruptcy lawyer RIGHT AWAY which you should have done months ago. It is a parent that a lot is going on or failing to go.on!which you don't entirely understand and which US slipped away from you. Get a good lawyer who may be able to bring matters under control. DO NOT DELAY. Good Luck.
Answered on Sep 02nd, 2015 at 9:35 PM
Real Estate Attorney serving Florence, KY
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Linda S. Novakov & Associates, PLLC
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If your bankruptcy is pending, this is an attempt to collect a debt. Contact your bankruptcy attorney immediately. His actions would not be tolerated in Kentucky. The trustee can intervene on your behalf. It the lender did not apply for and receive an order granting relief from the stay, the may not have acted appropriately.
Answered on Sep 02nd, 2015 at 9:34 PM