Posted on: 17th May, 2009 02:08 pm
do the baknk has right to foreclose house when i applay for bankruptsy
Welcome to the forums,
I guess it would really depend upon how quickly your bankruptcy atty filed for the bkcy at your local county courthouse. Just because you applied for it with an attorney doesn't mean he has begun the process yet.
Could you provide us with a bit more info on how far along you were in filing your bkrtcy?
I guess it would really depend upon how quickly your bankruptcy atty filed for the bkcy at your local county courthouse. Just because you applied for it with an attorney doesn't mean he has begun the process yet.
Could you provide us with a bit more info on how far along you were in filing your bkrtcy?
Hi pozret!
Welcome to forums!
I agree with Scott. Just applying for bankruptcy doesn't mean your bankruptcy has been accepted by the court. If your bankruptcy has not been accepted by the court, then the bank can foreclose the property. However, if your bankruptcy has been accepted and proceedings have started, then the court will issue an automatic stay due to which your creditors won't be able to sue you for the debts.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
I agree with Scott. Just applying for bankruptcy doesn't mean your bankruptcy has been accepted by the court. If your bankruptcy has not been accepted by the court, then the bank can foreclose the property. However, if your bankruptcy has been accepted and proceedings have started, then the court will issue an automatic stay due to which your creditors won't be able to sue you for the debts.
Feel free to ask if you have further queries.
Sussane
