Posted on: 16th Jun, 2010 11:47 am
We declared bankruptcy and it was granted on Dec 30, 2009. The house was surrendered in this case. Now we get a notice from REAL TIME RESOLUTION that they are in charge of my mortgage. My question is, What happens now?
Hi GW,
You've mentioned that your bankruptcy had been discharged by the court. As far as I can understand, you had filed for Chapter 7 and did not reaffirm your mortgage. In that case, the lender will not be able to come after you for the deficient balance though he sells off the property.
As you did not sign the debt reaffirmation agreement, you are not personally liable for the mortgage. You should inform the collection agency and inform them about the discharge of the loan. You can even send them a copy of bankruptcy discharge and request them not to harass you.
You've mentioned that your bankruptcy had been discharged by the court. As far as I can understand, you had filed for Chapter 7 and did not reaffirm your mortgage. In that case, the lender will not be able to come after you for the deficient balance though he sells off the property.
As you did not sign the debt reaffirmation agreement, you are not personally liable for the mortgage. You should inform the collection agency and inform them about the discharge of the loan. You can even send them a copy of bankruptcy discharge and request them not to harass you.