Posted on: 06th Sep, 2009 02:50 pm
can i included my equity line of credit in bankruptly and keep my house.
Hi iceman,
You can definitely include your home equity line of credit in the bankruptcy. But including it in bankruptcy does not help you protect your home from foreclosure. If you are filing chapter 13, you need to make the payments regularly as required in your chapter 13 plan. If you are filing chapter 7, you need to reaffirm the loan and make payments towards it to save your home from a possible foreclosure.
You can definitely include your home equity line of credit in the bankruptcy. But including it in bankruptcy does not help you protect your home from foreclosure. If you are filing chapter 13, you need to make the payments regularly as required in your chapter 13 plan. If you are filing chapter 7, you need to reaffirm the loan and make payments towards it to save your home from a possible foreclosure.
What difference it makes if the loan has been applied for jointly and the partnership comes to an end before the loan has been paid back completely?
Hi iceman,
Welcome to our forum.
Yes, Your equity line of credit included in bankruptcy but you can't avoide foreclosure on your house. You will lose house.
Thanks & Regards.
gunz.ijjistaff.
Welcome to our forum.
Yes, Your equity line of credit included in bankruptcy but you can't avoide foreclosure on your house. You will lose house.
Thanks & Regards.
gunz.ijjistaff.
Please gunzijjistaff don't be so demorilizing at least suggest some better options as well.