Perryton, TX Bankruptcy Law Firms & Lawyers

You need to be careful. At this point you are not liable for any deficiency once sold. You might need the help of a consumer law attorney, because the mortgagee's only recourse is against the property, and it appears they are affecting you personally that is, their reporting status is preventing you from purchasing another property.

In my practice, I've found that most couples can buy a house at reasonable interest in two years after filing a Chapter 7. You'll need to reestablish your credit. That means you have to make your payments on time to a business that reports to the credit agencies. For example, you're renting an apartment or a house, you pay utilities but most landlords and utilities don't report to the credit agencies. Car loans and credit cards generally report, so if you have a car loan, you're rebuilding your credit just by making the payments. When you filed bankruptcy, you received a swarm of car loan and credit card offers - many of these are ripoffs but you should look at them and if there is a low limit credit card with a good interest rate (in your case consider 18% a good interest rate), then apply and make the payment every month.

Under current law, student loans are non-dischargeable in bankruptcy. However, you should be aware of your liability as a co-signor. If the student loans were dischargeable, the creditors would collect from you since you are a co-signor on the loans.