We filed ch7 bankruptcy 3yrs ago. It was discharged. Just recently I discovered our home mortgage was never reaffirmed. We’re making payments, our mortgage company is happy. But our payments are not being reported to any credit agency (our credit report doesn’t show we even have a mortgage.)

A quick call to our lawyer who handled this told us that no assumption papers were signed. I know when I filled out the "so you want to file bankruptcy" paperwork that I checked that we wanted to assume our mortgage. Our lawyer said the following:
A) it wasn’t a big deal but nothing could be done now
B) the mortgage companies often don’t allow mortgages to be reaffirmed (essentially saying it was their fault)
C) we should seek other methods of rebuilding our credit.

Does any one know:
A) is it really no bid deal?
B) should I fight to determine who’s fault this really was?
C) is there anything that can be done to get our mortgage back in good standing?

Thanks
Frustrated in Big

Technorati Tags: assumption, bankruptcy, credit report, home mortgage, lawyer, mortgage companies, mortgage company, mortgages, paperwork, quot, report doesn

I live in Florida and have spoken with a Bankruptcy lawyer about my situation. I had excellent credit prior to a house I had up for sale being on the market for 6 months and tried to sustain two mortgages plus expenses on both houses and a lot of credit card debt, mostly used to fix up both houses.

It’s been since March 2007 that I made my last credit card payments. I took all of the 00 I received as a tax refund and paid it on 5 different cards.
I called the credit card companies and tried to set up a payment plan of some sort because I was drowning. NONE of the 5 would and acted really crappy when asked. The phone calls also bordered on harassment.
So, eating ramen noodles and peanut butter started pissing me off. If they didn’t want to work with me, then I wouldn’t work with them.
I changed my telephone number and stopped paying them.

After speaking with an attorney early this year, he stated that unless I was faced with court papers to appear, to stave off filing for bankruptcy. If I did file, it would be for Chapter 13 he stated.

I wanted a second opinion so here I am. My questions are…

If I do not file, the statue of limitations runs out in less than 2.5 years for the state of Florida. If I am not served a summons, after the SOL runs out, can they still serve me with papers?

If there is no summons or judgment, will the charge off debts stay on my record for 7 years from the last time I paid the credit card company? Or when the debt was sold to a collection agency which I think is usually a year afterwards (they all have been sold).

If the debt is sold again to another collection agency, does my time start over?

On my credit record, will there be an entry for the credit card company debt AND the collection agency?

I simply want to know when the credit card company debt and charge offs will drop from my record if I do not pay them.

Thanks for any help you can provide…

Technorati Tags: bankruptcy lawyer, chapter 13, charge offs, company debt, credit card debt, credit card payments, debts, filing for bankruptcy, harassment, judgment, last time, mortgages, peanut butter, ramen noodles, second opinion, sol, statue of limitations, summons, tax refund, telephone number

I live in Florida and have spoken with a Bankruptcy lawyer about my situation. I had excellent credit prior to a house I had up for sale being on the market for 6 months and tried to sustain two mortgages plus expenses on both houses and a lot of credit card debt, mostly used to fix up both houses.

It’s been since March 2007 that I made my last credit card payments. I took all of the 00 I received as a tax refund and paid it on 5 different cards.
I called the credit card companies and tried to set up a payment plan of some sort because I was drowning. NONE of the 5 would and acted really crappy when asked. The phone calls also bordered on harassment.
So, eating ramen noodles and peanut butter started pissing me off. If they didn’t want to work with me, then I wouldn’t work with them.
I changed my telephone number and stopped paying them.

After speaking with an attorney early this year, he stated that unless I was faced with court papers to appear, to stave off filing for bankruptcy. If I did file, it would be for Chapter 13 he stated.

I wanted a second opinion so here I am. My questions are…

If I do not file, the statue of limitations runs out in less than 2.5 years for the state of Florida. If I am not served a summons, after the SOL runs out, can they still serve me with papers?

If there is no summons or judgment, will the charge off debts stay on my record for 7 years from the last time I paid the credit card company? Or when the debt was sold to a collection agency which I think is usually a year afterwards (they all have been sold).

If the debt is sold again to another collection agency, does my time start over?

On my credit record, will there be an entry for the credit card company debt AND the collection agency?

I simply want to know when the credit card company debt and charge offs will drop from my record if I do not pay them.

Thanks for any help you can provide…
The SOL is 4 years, it will run out in 2.5 years since my last payment is what I was referring to.

Technorati Tags: bankruptcy lawyer, chapter 13, charge offs, company debt, credit card debt, credit card payments, debts, filing for bankruptcy, harassment, judgment, last time, mortgages, peanut butter, ramen noodles, second opinion, sol, statue of limitations, summons, tax refund, telephone number

They are filing because of -40,000 credit card debt. I’ve chosen to stay in the house, they have decided to move out but still pay their half of the mortgages until the house is sold…Needing serious help in protecting my equity for my daughters college next year !

Technorati Tags: credit card debt, mortgages

I have listed all of my outstanding debts on my bankruptcy (including the 2 mortgages on my home), although I had planned on keeping our home and continuing to keep up the payments. My atty told me that if I needed to walk away from the home at any point after the discharge, that the bankruptcy would help me to avoid any judgements as long as I didn’t refinance the loans. But even without paying the debts that I am filing on, we are still finding that our monthly expenses are far outstrapping our income, so we are thinking about short selling and getting a smaller rental home for a while until we get back on our feet. My domestic partner is on SSI, and is "judgement proof" from what my atty says, so between that and my chapter 7 simply walking away is an alternative to short selling. My question is: what is the best thing to do for the long term?? At this point, both my partner and my credit scores are in the toilet anyway. I’m just worried about never having credit again.

Technorati Tags: bankruptcy, chapter 7, credit scores, domestic partner, judgement proof, judgements, loans, monthly expenses, mortgages, outstanding debts, ssi, toilet

Got laid off and cannot afford to pay mortgages. I have 1st home refinanced and cashed out ,000 3 years ago when all was still good. Total balance left is ,000 First home is only under my name which was rented out.

Then we bought a bigger house 2 yrs ago at the peak of housing and Our 2nd home was under my name and my wife this time which became our primary residence which was also foreclosed recently. Balance owed on 2nd mortgage is ,000 was not paid during the auction (purchase loan not refinanced). Both 2nd mortage lenders are now asking for payment on the deficit. I have around ,000 credit card debt also. My questions are;

1) Will any of the 2 2nd mortgage lender be able file judgement against me here in California for garnishment?

2) Considering the concerns above, would it be better to file for bankruptcy? We do not have any car loans as 2 cars is fully paid.

3) If bankruptcy is an option, should I file on my own only considering it is only I who’s on the 1st home 2nd loan which was refinanced and only I who is owing all the ,000 credit card debt? Or is it better for us to BOTH file?

4) Will we be issud a 1099 for tax on those deficit? Are those not going to be forgiven?

5) If we don’t file for bankruptcy what is the advantage considering we have forclosed homes on our record? I noticed all our credit card limit are getting lower and lower every month bec. of the foreclosure.

I appreciate all the help I need in this difficult times. thank you!!

Technorati Tags: 3 years, auction purchase, bankruptcy, bec, car loans, cars, credit card debt, credit card limit, difficult times, forclosed homes, foreclosure, garnishment, judgement, mortage lenders, mortgage lender, mortgages, purchase loan

I am in the middle of a messy divorce. The house is in foreclosure and I have a lot of debt. The house does have an offer but I will owe on closing and not sure how I can come up with the money for that. My divorce will not be final for a couple months, should I wait until the divorce is final or can I proceed with bankruptcy? The only debt that is in both our names are the three mortgages, what happens with them. How will it effect his credit?

Technorati Tags: bankruptcy, foreclosure, messy divorce, money, mortgages

Our house burned on May 2005, we had replacement insurance on it, and the insurance co won’t pay us, so we got a lawyer to fight that, but now what do I do, we moved to another house, and I was thinking that we could just rent the burned house out after it was fixed. So now we have two mortgages, and no rent money. The lawyer said we had a case. But now what do we do since we can’t afford both house payments? Can we file bankruptcy on the burned home?
Serious answers please.

Technorati Tags: bankruptcy, insurance, insurance co, lawyer, money, mortgages

Hi,
The 2-year ARM on my home mortgage (two mortgages) expires August 2008 (home purchased August 2006). However, I filed a Chapter 7 bankruptcy in 2007 (discharged in July 2007). Will I be able to refinance this year? I’ve heard that Ch. 7’s are different from Ch. 13’s in terms of the refinancing waiting time.

Technorati Tags: ch 7, chapter 7 bankruptcy, home mortgage, mortgages, refinancing, waiting time