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AV Preeminent Peer Rated Attorneys
San Francisco County Residents, consider several factors when selecting a lawyer ... Learn More
AV Preeminent Peer Rated Attorneys
San Francisco County Residents, consider several factors when selecting a lawyer including their experience, expertise, and reputation. AV Rated Attorneys represent a distinguished group of lawyers who have received top ratings from their peers for their exceptional ethical standards and an A grade (4.5 or higher).

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About our Bankruptcy Lawyers Ratings

The average lawyer rating is created by peers based on legal expertise, ethical standards, quality of service, and relationship skills. Recommendations are made by real clients.

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Commonly Asked Bankruptcy Questions From Users Near You

This information is not legal advice and is not guaranteed to be correct, complete or up-to-date. It is provided for general informational purposes only. If you need legal advice you should consult a licensed attorney in your area.

How can I tell if a home foreclosure was written off?

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Answered by attorney Tony E. Carballo (Unclaimed Profile)
Bankruptcy lawyer at Carballo Law Offices
If there was only one loan on the property and there was a trustee' sale then there is no liability of the deficiency (the amount owed less the amount received by the bank at the trustee's sale). If there was a second loan then you still generally owe the unpaid balance of the second loan. The bank may have written it off which means they took it off their accounting books and transferred it to a collection company or sold the debt to another company. You still owe it but not to the same bank. it may not be in your credit report because some of the companies that buy bad debt don't report it to the credit bureau or don't report it for a long time. Therefore, the fact that it is not shown in your credit report does not mean you do not owe it. Sooner or later you will be contacted about it or served with a lawsuit. Your mother will not be liable because of her bankruptcy but they will go after you. You may also have a tax problem since the bank is required to report cancellation of debt to the IRS using a form called 1099-C.
If there was only one loan on the property and there was a trustee' sale then there is no liability of the deficiency (the amount owed less the amount received by the bank at the trustee's sale). If there was a second loan then you still generally owe the unpaid balance of the second loan. The bank may have written it off which means they took it off their accounting books and transferred it to a collection company or sold the debt to another company. You still owe it but not to the same bank. it may not be in your credit report because some of the companies that buy bad debt don't report it to the credit bureau or don't report it for a long time. Therefore, the fact that it is not shown in your credit report does not mean you do not owe it. Sooner or later you will be contacted about it or served with a lawsuit. Your mother will not be liable because of her bankruptcy but they will go after you. You may also have a tax problem since the bank is required to report cancellation of debt to the IRS using a form called 1099-C.
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Are closed credit cards with remaining balances unsecured debts?

John A Moffa
Answered by attorney John A Moffa (Unclaimed Profile)
Bankruptcy lawyer at Moffa & Breuer, PLLC
Probably, but some credit cards are secured and the items bought with them can be repossessed after being sued.
Probably, but some credit cards are secured and the items bought with them can be repossessed after being sued.

If you're in a Chapter 13 bankruptcy plan, can you file a Chapter 7 instead?

Jeffrey David Solomon
Answered by attorney Jeffrey David Solomon (Unclaimed Profile)
Bankruptcy lawyer at Law Office of Jeffrey Solomon
You do have a right to convert your case to chapter 7. You should consult your attorney to determine if advisable.
You do have a right to convert your case to chapter 7. You should consult your attorney to determine if advisable.