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.

Kevin Gipson, New Orleans Bankruptcy Attorney
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