Bankruptcy Law/chapter 13

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Expert: - 3/6/2008


Question
My wife and I surrendered our home in a chapter 13 bankruptcy.Is this considered a foreclosure with the  credit score or a bankruptcy?

Answer
The bankruptcy will just eliminate the debt for you.  The lender will have to foreclose to transfer title unless they offer you a deed in lieu of foreclosure.  The bankruptcy will trump the negative on your credit report and should help your credit rating once you are discharged.

Bankruptcy Law

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Terry Leeders

Expertise

Handles Chapter 7 and Chapter 13 bankruptcy cases.
10 years of extensive bankruptcy experience. Filed over 3000 cases
Chicago Bankruptcy Lawyer website
"One On One Personal Service You Deserve"

Experience

I have been practicing bankruptcy law for 10 years. I have helped over 3000 consumer bankruptcy clients in that time.

Organizations
Chicago Bar Association Illinois Bar Association

Publications
author of Chicago Bankruptcy Blog
Chicago Chapter 13 Bankruptcy Blog
Illinois Bankruptcy Law Blog
Fresh Start Partners

Education/Credentials
University of Illinois Thomas M. Cooley Law School
Chicago Bankruptcy Lawyer website

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