Temple, TX Bankruptcy Law Firms & Lawyers

You may file a chapter 7 eight years after filing the last chapter 7. You may file a chapter 13 either 4 or 6 years depending on the circumstances. Please understand that filing for bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step.

Generally, yes, those debts will be discharged as part of the bankruptcy. However, if the underlying judgment found that there was some type of fraud or other instances, the debt may not be discharged. Visit with your attorney to make sure.

The following answer applies to California jurisdiction only. I don't know of any local bankruptcy attorney who would condone or suggest to a client that they reaffirm a mortgage debt. It is not in your best interest to do that so the fact that you did not reaffirm is not a bad thing. If at some point you can't afford to make the payments anymore because you have filed and received a discharge in bankruptcy AND because you have NOT reaffirmed the debt you can walk away from the property. The only remedy the creditor(s) have is to take the property, they cannot sue you for any deficiency or attempt to collect from you. The protection of the bankruptcy discharge makes any such collections illegal. A loan modification, should you get one, would not change this result. Refinancing however would because when you refinance you get a new loan and in your case it would be a loan acquired after the bankruptcy had already been filed. Hope this perspective helps. Take care.