QUESTION
If I signed a promissory note as part of the short sale approval, can I dismissed later on in a bankruptcy?
Asked on Mar 18th, 2013 on Bankruptcy - Georgia
8 ANSWERS
You will include the house in the bankruptcy, however it will be to report the debt and discharge the short saled amount.
Answered on Mar 25th, 2013 at 8:23 PM
Bankruptcy Attorney serving Hampton, VA
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Haven Law Group, P.C.
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Yes, as long as no fraud is involved. You probably should put a little time in between the short sale note and the filing of the bankruptcy.
Answered on Mar 21st, 2013 at 12:54 AM
That would be a dischargeable debt and could be included in a Chapter 7 bankruptcy.
Answered on Mar 20th, 2013 at 11:11 PM
Richard hirsh
I understand your question to ask whether you can discharge a note you signed in connection with a short sale.
Answered on Mar 19th, 2013 at 2:33 PM
You would need to have your bankruptcy attorney review the terms of the note to be certain, but I would expect that this debt would be eligible to be discharged in a bankruptcy.
Answered on Mar 19th, 2013 at 2:08 PM
2 Awards
Yes, a promissory note is just a promise to pay. It is always dischargeable in bankruptcy.
Answered on Mar 19th, 2013 at 2:08 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Hopefully yes. But there could be a problem if you knew you were going to file bankruptcy and lied on the short sale agreement.
Answered on Mar 19th, 2013 at 5:24 AM
Glen Edward Ashman
Probably.
Answered on Mar 19th, 2013 at 5:23 AM