Can I Include My Foreclosure In My Bankruptcy?

04 Aug Can I Include My Foreclosure In My Bankruptcy?

Can a house that has been foreclosed on be included in a Bankruptcy?

A foreclosure proceeding is used by a creditor to seize and sell a house on which the creditor holds a mortgage.

If you live in a State such as Louisiana that allows the creditor to get a deficiency judgment, and if the creditor did not get all of the money it was owed in the foreclosure proceeding, then the creditor can go after the you for the additional amount that is owed.

When a bankruptcy is filed, you receive a stay of all attempts to collect on a debt. The stay includes legal proceedings such as an attempt to collect on a deficiency judgment.

So by filing a bankruptcy you can include the foreclosure judgment and stop any additional collection actions by a creditor.

The foreclosure laws of vary from State to State and the rights of creditors can vary under state law.

Consult with an experienced bankruptcy attorney to make sure your rights are protected.

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I've been a consumer bankruptcy lawyer for nearly 25 years. Since that time I have helped many people resolve their financial problems. I have been practicing law since 1986 and I am licensed to practice in all state and federal courts in the State of Louisiana. Because I am a sole practitioner, you know that your debt matters are being handled by me personally. In addition to my work with consumers, I am also frequently asked to speak at local seminars on bankruptcy law. I am member of the following organizations: • Louisiana Bar Association • National Association of Consumer Bankruptcy Attorneys • Bankruptcy Law Network My office is located at: 3920 General DeGaulle Drive, New Orleans, LA 70114 Telephone: (504) 368-4101

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