QUESTION
My husband and I filed bankruptcy back in 2008 and on the statement of intentions it says "Debtor will retain property and continue to make payments"
Asked on Aug 29th, 2011 on Bankruptcy - Maryland
More details to this question:
Does this mean we "reaffirmed?" Or was it discharged in the bankruptcy and if we have trouble continuing to pay are we able to walk away from the house?
1 ANSWER
Bankruptcy Attorney serving Burbank, CA
Partner at
Law Office of Mark J. Markus
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3 Awards
It does NOT mean it was reaffirmed. It doesn't really mean anything at all, to be completely candid. If you filed a Chapter 7 and received a discharge, then the debts you owed on your house were discharged and, if the property is sold, you are not liable for any deficiency.
Mark J. Markus, Attorney at Law
Handling exclusively bankruptcy law cases in California since 1991.
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Answered on Aug 29th, 2011 at 9:22 PM