Forclosure after bankruptcy
I had a bankruptcy discharge in June of 1999 where I only kept my mobile home. Everything else was discharged. Since then, I only work as an independent demonstrator for a stamp company and earn approx $300 a month and my husband lost his job in June 2002. The mobile home is in my name only and I cannot afford to keep it any longer and pay my lot rent. I know I cannot file bankruptcy again now but what happens if they foreclose? Can they make my husband pay for the home if his name is not on the loan? I was not married when I bought it. I have 3 credit cards and all the utilities in my name and this mobile home. Can they force me to pay for it when I have no income?
Re: Forclosure after bankruptcy
You can’t file another chapter 7 bankruptcy for six years after the filing date of your previous petition.
You COULD, however, file a Chapter 13 bankruptcy.
That’s a type of bankruptcy in which you pay back part of your debts over a three- to five-year period.
No, you can’t make someone else pay our debt.
If you don’t pay, then the mortgage holder can foreclose.
The fact that you CAN’T pay because you are having financial problems is not a defense to a foreclosure action.
Hope this information helps!
Dorene Philpot
Philpot Law Office
156 E. Market St., Suite 1000
Indianapolis, IN 46204
Re: Forclosure after bankruptcy
First, they cannot chase your husband if he is not a signatory on the loan. You may only file bankruptcy every six years (from the date you file)
If you want to keep the mobile home you do have other options. In a Chapter 13 bankruptcy, you could file a plan which which allow you to pay the lender over 3-5 years the fair market value of the mobile home and discharge the balance of the debt. Since most mobile homes are worth far less than what is owed , you may be able to keep it for a fraction of the debt. You could also discharge the medical bills. I recommend that you see an expeienced bankruptcy attorney asap, most offer free initial consultations. Good Luck!!
John Bator
Bator Redman & Shive
151 N. Delaware Street #1106
Indianapolis, IN 46204