Can I file bankruptcy if I am on title? - Bankruptcy Law Questions and Answers- LawQA.com

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Can I file bankruptcy if I am on title?

Can I file for Bankruptcy if I am on title but not on loan to our home?

Answer By Alan D. Walton
Breckenridge and Walton
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Yes, but if there is equity then you could lose the home.

Answer Applies to: Michigan
Replied: 10/14/2011

Answer By Natalia Diaz
Caruso & Diaz L.L.C.
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Yes you can.

Answer Applies to: New Jersey
Replied: 10/3/2011

Answer By David C. Ayer
AyerHoffman, LLP
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You can file bankruptcy even if you are on the mortgage. The mortgage is a secured debt which is treated differently in a bankruptcy from unsecured debts like credit cards. As well, your interest in the home may fall under one of the many exemptions of property from the bankruptcy estate. You should consult with a bankruptcy attorney and explain your situation in detail to determine whether Chapter 7 or Chapter 13 bankruptcy is appropriate for you. Your attorney can guide you through the process to a decision which is right for your individual needs.

Answer Applies to: Massachusetts
Replied: 10/3/2011

Answer By Janet Lawson
Janet A. Lawson Bankruptcy Attorney
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Yes, but you will have to notify the lender if you are trying to stop a foreclosure.

Answer Applies to: California
Replied: 10/3/2011

Answer By Michael Johnson
Law Office of Michael Johnson
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Yes you can, but the debt will not be eliminated.

Answer Applies to: Florida
Replied: 10/3/2011

Ashman Law Office
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Yes, but whether you should and what will happen are things you need to talk to a lawyer about, as the wrong decision can be an irreversible catastrophe.

Answer Applies to: Georgia
Replied: 10/3/2011

Answer By Kevin Heupel
Heupel Law
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Yes, assuming that you have other debts that you want to discharge and the home is not the sole reason that you are filing bankruptcy, you can still file although you are listed on the title, but not on the loan.

Answer Applies to: Colorado
Replied: 10/3/2011

Bankruptcy Law office of Bill Rubendall
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If you are not on the loan filing bankruptcy will not operate as an automatic stay against collection by the lender.

Answer Applies to: California
Replied: 10/3/2011

Greifendorff Law Office
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Yes. The two have no logical connection. The real question is whether or not it would be wise to do so. You should get legal counsel to determine that with a view of your whole situation.

Answer Applies to: California
Replied: 10/3/2011

Answer By Melissa Hoffman
AyerHoffman, LLP
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Yes, you can file for bankruptcy if you are on the deed for property but not a loan secured by that property. There are a couple of things to keep in mind. If you are looking to have the loan amount discharged, the person whose name appears on the mortgage will have to file bankruptcy to do so. The property will be treated as an asset, and you will be able to protect any equity in the property (up to $500,000 in Massachusetts).

Answer Applies to: Massachusetts
Replied: 10/3/2011

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