Posted on: 27th Feb, 2012 02:37 am
finally, we’re filing bankruptcy. our bankruptcy lawyer helped us file chapter 11. the main reason for filing was the bank. we needed a loan modification. at the court, none showed up. i thought we were through with everything and we got our loan mod. but then things changed last week… we received an e-mail from our lawyer which he had received from the bank’s lawyer offering a loan mod not worth our time responding to. here is what i don't understand; i thought that because they did not show up at the hearing we automatically got what we petitioned in the court for. why are we negotiating with the banks lawyer? what happens if we cannot come to an agreeable plan?
thanks for any help,
thanks for any help,
Hi Kinna,
Well, you should first check out whether or not the lender was informed about you bankruptcy filing. If they knew about it and offered you a loan modification at that point of time, then they cannot change the terms of loan modification again. You should also have a word with your bankruptcy attorney in this regard.
Take care.
Well, you should first check out whether or not the lender was informed about you bankruptcy filing. If they knew about it and offered you a loan modification at that point of time, then they cannot change the terms of loan modification again. You should also have a word with your bankruptcy attorney in this regard.
Take care.
Hi Kinna!
Welcome to forums!
If you have already received a loan modification earlier, then the lender cannot change the terms and conditions of loan modification suddenly without informing you. As Sara has suggested, you should contact your bankruptcy attorney and take his opinion in this matter.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If you have already received a loan modification earlier, then the lender cannot change the terms and conditions of loan modification suddenly without informing you. As Sara has suggested, you should contact your bankruptcy attorney and take his opinion in this matter.
Feel free to ask if you've further queries.
Sussane