reaffirm mortgage chapter 13

Reaffirmation Agreement Debtor Packet – United States Bankruptcy. – Certain debts can not be discharged in a chapter 7 or a chapter 13 bankruptcy case. You are not required to reaffirm any debt or sign any agreement regarding a.

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If a Mortgage Is Not Reaffirmed After Bankruptcy and Payments. – In a Chapter 7 bankruptcy, reaffirmation involves reinstating your mortgage obligation as it existed prior to the filing of your bankruptcy petition. In a Chapter 13 bankruptcy, reaffirmation may be integrated into the court-brokered repayment plan to which you and your creditors have agreed.

What Happens If You Do Not Reaffirm Your Mortgage in. – When you file bankruptcy and do not reaffirm your mortgage, your lender will report to the credit bureaus that it has also been discharged. When it is reported this way, it appears much like a credit card would be on a charged off account.

Reaffirm mortgage – Bankruptcy Help: Chapter 7 13 Discharge – If you filed a Chapter 13 and did not include the mortgage in your plan of reorganization ("surrendered" the property), then you continue to owe the debt and the mortgage (note) is still your personal responsibility. There is no reaffirmation in Chapter 13; you either surrender or include it in the plan.

Should I Reaffirm My Mortgage in my chapter 7 bankruptcy case. – If you reaffirm the debt during your Chapter 7 bankruptcy case and then do not pay it, you owe that debt as if you never filed bankruptcy. If you do not or can not make your mortgage payments, your mortgage company will foreclose on the home and then attempt to collect from you the deficiency after the foreclosure sale.

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What is a Motion for Relief from Stay? Bankruptcy Information – A Motion for Relief from Automatic Stay is a process where a creditor requests from the court to continue the foreclosure or repossession process.

Did I Reaffirm a Mortgage in Bankruptcy? – Default Landing. – It is nearly always a bad idea to reaffirm a mortgage in a Chapter 7 bankruptcy. If you are a Michigan resident and would like to explore your options for a Chapter 7 or Chapter 13 bankruptcy with an experienced Michigan bankruptcy attorney , please contact us at (866) 674-2317 or click the button below to schedule a free, initial consultation.

When to Reaffirm a Debt, When to Use Chapter 13 Wasson. – Reaffirming a secured debt, like a vehicle loan, can be a good way to keep that collateral/vehicle. But Chapter 13 is sometimes better. The last 5 blog posts in December were about keeping the collateral you want by "reaffirming" the debt. "Reaffirmation" applies only to Chapter 7 "straight bankruptcy"cases.