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Bankruptcy Law/amendment to ch 7

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Expert: - 8/19/2008


Question
i recently filed ch 7 bankruptcy but it still has not closed due to a reaffirmation contract that needs to be signed by the judge, due to this i have had time to re think keeping my home  is it to late to include my house in the bankruptcy to be discharged along with everything else by filing an amendment?

Answer
I'm not sure I understand your question or facts.

You are required to list all assets and all debts in any bankruptcy case.  If you did not "include" the debts on your home (or the home itself) in your bankruptcy schedules, you risk being investigated by the FBI and having your entire discharge revoked if it is ever discovered.  Assuming you did list your home and its corresponding debts, then there is nothing more you need to do, unless you entered into a reaffirmation agreement with the creditors secured by your home, in which case you need to rescind the agreement.

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Mark J. Markus- California Bankruptcy Attorney

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Mark J. Markus is a Los Angeles bankruptcy attorney who has practiced exclusively bankruptcy law in California since 1991 and is rated A+ by the Better Business Bureau and is AV-rated by Martindale-Hubbell. He represents debtors, creditors, and Trustees in Chapter 7, Chapter 11, and Chapter 13 of the bankruptcy code throughout California.

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Visit our California bankruptcy webpage at http://www.bklaw.com for more information on bankruptcy in general and Mark J. Markus in particular. Many questions are answered on the web page (hint, hint).
The Markus webpage also contains more information on

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  • business bankruptcy,
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    Organizations
    Central District Consumer Bankruptcy Attorneys Association (CDCBAA) Los Angeles County Bar Association (LACBA) Commercial Law & Bankruptcy Section of the Los Angeles County Bar Association Financial Lawyers Conference (FLC) National Association of Consumer Bankruptcy Attorneys (NACBA) Los Angeles Bankruptcy Forum (LABF) American Bankruptcy Institute (ABI) San Fernando Valley Bar Association (SFVBA)

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    Central District Consumer Bankruptcy Attorneys Association Newsletter September 2007 (Vol. 1, Issue 2)

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    J.D., University of Arizona 1990. B.A. Economics, California State University, Northridge 1986. For more details please click here

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    AV Rated by Martindale-Hubbell (http://www.martindale.com) A+ Rated by Better Business Bureau

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