Roseville, CA Bankruptcy Law Firms & Lawyers

Anonymous, Attorney Joanis is correct - they do not have the obligation to report it positively on your credit report any longer. If you had reaffirmed your mortgage in the bankruptcy (which I never let my clients do), then they would report it on your credit report positively. By not having reaffirmed the debt, they take the position that you no longer personally owe the money, and therefore they no longer are required to report it on your credit report. I've also heard banks state that without a reaffirmation agreement, they believe that reporting the loan to your credit report would actually violate the post-discharge against attempting to collect a discharged debt (the credit report, presumably is a tool used to get you to pay your debt - if you don't your credit report is damaged). You must continue to repay the loan - if you do not, they can foreclose the home because the lien against the home survives the bankruptcy and gives the lender the right to foreclose if they are not paid. This is one of the least-understood areas of bankruptcy in these days where so many people are forced into bankruptcy. Unless you want to walk away from the house, I would accept their offer, but read anything they ask you to sign carefully. You don't want to create new, personal liability for the loan by effectively signing new loan documents. Have your bankruptcy attorney or a qualified real estate attorney review anything before you sign it. David L. Gibbs, Esq.The Gibbs Law Firm, APCSan Clemente, Californiadavid.gibbs@gibbslaw.com *Due to the limitations of the Lawyers.com Forums, The Gibbs Law Firm, APC's (the "Firm") participation in responding to questions posted herein does not constitute legal advice, nor legal representation of the person or entity posting a question. No Attorney/Client relationship is or shall be construed to be created hereby. Further, information you provide to the Firm through this website is not confidential - it is available publicly to anyone visiting this website. The Firm shall have no obligation to keep the information you provide herein confidential in any context. The information provided herein by the Firm is general, and requires that the poster obtain specific legal advice from an attorney. The poster shall not rely upon the information provided herein as legal advice nor as the basis for making any decisions of legal consequence. As required by 11 U.S.C. §528, we must now disclose that, "We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. Assistance we provide with respect to Debt Relief may involve bankruptcy relief under the Bankruptcy Code."

File bankruptcy. If you guys have joint debt then they will try to collect from you or sue you and garnish wages/levy accounts/etc. If you file bankruptcy you are relieved of his obligations (and your credit debt).