Posted on: 28th Jan, 2011 09:26 pm
My parents recently filed chapter 7 and right before the 341 meeting they realized they forgot about property that my brother owns and my mother is co owner of. Will my brother loose his property if the bankruptcy goes through? Is there a way to dismiss the whole thing?
Welcome lorijja,
As your parents have not included the property that they co-own with your brother in their bankruptcy filing, there are high chances that the bankruptcy filing will get dismissed. If the mortgage on the property is included in bankruptcy, then your parents will get a discharge from it and your brother will become responsible for paying off the dues in full.
As your parents have not included the property that they co-own with your brother in their bankruptcy filing, there are high chances that the bankruptcy filing will get dismissed. If the mortgage on the property is included in bankruptcy, then your parents will get a discharge from it and your brother will become responsible for paying off the dues in full.