Ames, TX Bankruptcy Law Firms & Lawyers

Bankruptcy will stay on your credit for 7-10 years. You can apply for loans immediately after the case is closed, but you aren't likely to obtain them for some period of time. It will be necessary to rebuilding your credit first.

Whether a party is an indispensable party is not a bankruptcy question, per se. In this case you should have your lawyer seek a stay of the action against you until such time as your co-defendant can participate in a trial. A finding of fraud would render the plaintiff's claims against your co-defendant non-dischargeable and the plaintiff's lawyer should be considering filing an adversary action in the bankruptcy court or seeking relief from stay. Meanwhile, your lawyer needs to do whatever he/she can to postpone trial so your defense can be asserted.

Hard to imagine how you managed to pay that much money if you did not want to continue paying and now you are concerned about it after so long. While the personal liability for the mortgage/deed of trust is discharged in bankruptcy, the debt is still collectable if the bank wants to sell the house in foreclosure and get whatever the sale proceeds are received because it is secured by a lien (a deed of trust or mortgage) and the lien is not affected by the bankruptcy. I would guess that the bank will now claim that you paid voluntarily which you are allowed to do after bankrutpcy. I doubt that you can get it back but your situation is so unusual that you need to consult with an attorney who can review the documents and get all the facts.