Posted on: 10th Jul, 2010 08:35 pm
I live in Fla. and two years ago I got a discharge on my bankruptcy and I keep getting letters from my bank ( Bank of Am. ) stating: Our records indicate that in the past you received a discharge of this debt in a bankruptcy case. Section 524 of the Bankruptcy Code tells us the dischargeof this debt means you have no personal obligation to repay it. The discharge also protects you from any efforts by anyone to collect this discharged debt as a personal liability of the debtor. My question is can I just walk away from this debt from the bank and just let the bank take it back? what other options do I have?
i guess you have filed chapter 7 bankruptcy and did not reaffirm the mortgage. in that case, you're not personally liable for the mortgage dues. you can surrender the property to the lender and walkaway from it. the lender will sell off the property in order to recover the dues.