Can I file bankruptcy if I cannot afford my mortgage or bills? 15 Answers as of July 12, 2013

I lost my job in Aug. 2010, and have been living on unemployment ever since. I have a foreclosure date of June 14. The mortgage company has used predatory tactics to cause me to be behind and more in debt because of their late fees and the unwillingness to help me at all. I got the mortgage in 2003, and divorced in 2005. I wanted to keep the house, so I took it over and the kids and I stayed in it. I also own approx. 5 acres around the land included in the mortgage that I paid for. I want to put a trailer on that property as I have filed for SS disability, and my income will not be enough to pay the mortgage. My kids are gone and on their own. I dont want to have enormous debt and a mortgage to have to deal with. What should I do?

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Law Offices of Michael J. Berger
Law Offices of Michael J. Berger | Michael J. Berger
Call me for a free consultation. I will review all the details of your financial situation and help you to determine if bankruptcy is right for you.
Answer Applies to: California
Replied: 5/17/2011
Cohen & Kendziorra, P.A.
Cohen & Kendziorra, P.A. | Robert S. Cohen
It appears that bankruptcy may be an option.
Answer Applies to: Florida
Replied: 4/27/2011
Bankruptcy Law office of Bill Rubendall
Bankruptcy Law office of Bill Rubendall | William M. Rubendall
After the foreclosure is completed you will no longer have a right to stay on the property. You should begin looking for a place to move to. A bankruptcy will discharge personal liablility for the mortgage and other bills. Seek advice of a bankruptcy attorney to see whether you qualify for Chapter 7 or another chapter.
Answer Applies to: California
Replied: 4/26/2011
Mercado & Hartung, PLLC
Mercado & Hartung, PLLC | Christopher J. Mercado
It sounds like BK might be a viable option for you. If you are in WA, we can schedule a free consultation at your convenience to discuss your situation in detail.
Answer Applies to: Washington
Replied: 4/26/2011
William C. Gosnell, Attorney at Law
William C. Gosnell, Attorney at Law | William C. Gosnell
Yes get the trailer on your land that is paid for and file Bankruptcy let the other property go.
Answer Applies to: Tennessee
Replied: 4/26/2011
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    You need to consult with a lawyer near you. Bankruptcy may very well be an option for you. I do not know what the raw land or the trailer worth and I do not know what state you are in, so I can not answer your question fully. Most lawyers will give you a free initial consultation.
    Answer Applies to: California
    Replied: 4/26/2011
    Law Offices of Michael T. Krueger
    Law Offices of Michael T. Krueger | Michael Krueger
    Yes, you can file bankruptcy if you cannot afford your mortgage or bills. The question an attorney will be able to answer is "which chapter should you file?" There are elements of your particular case that need to be addressed. First, was the mortgage a purchase money mortgage? How much do you owe to your mortgage lender and how much is the land surrounding your property worth? Discuss these questions with an experienced bankruptcy attorney licensed in your state to determine the best approach.
    Answer Applies to: California
    Replied: 4/26/2011
    Indianapolis Bankruptcy Law Office of Eric C. Lewis
    Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
    If you cannot afford to keep the mortgage, then bankruptcy will do you little good. Chapter 7, if you qualify, would eliminate your liability on the mortgage debt and let you walk away. Chapter 13 is a repayment plan in which you could repay the mortgage arrears over time and continue to make your regular mortgage payments.
    Answer Applies to: Indiana
    Replied: 4/26/2011
    Burnham & Associates
    Burnham & Associates | Stephanie K. Burnham
    The best time to file Bankruptcy is when you cannot pay your bills or your mortgage. Your situation is very fact specific and in order to best protect what you have, you should seek legal advice immediately!
    Answer Applies to: New Hampshire
    Replied: 4/26/2011
    The Davies Law Firm, P.A.
    The Davies Law Firm, P.A. | Robert F. Davies, Esq.
    Bankruptcy might help you. I would review your whole situation with you, and give you some legal advice as to what you can do. Bankruptcy might help, or you may be better off dealing with these issues by taking other steps.

    Give me a call, make an appointment to come see me, and let's get moving on this for you. No charge for the first office visit. I know people worry about how expensive a lawyer is, so I am careful to be as inexpensive as I can for my clients.

    Before you spend a dime, you will know how much this is likely to be.
    Answer Applies to: New Jersey
    Replied: 4/26/2011
    The Law Offices of Benjamin C. Tiller, Esq.
    The Law Offices of Benjamin C. Tiller, Esq. | Benjamin Tiller
    This is a complicated situation, and you really should contact an attorney to review your loan documents and discuss your options. Do you think you can rent the home out? If so, then maybe you would be best served by filing for Chapter 13 to stop the foreclosure, renting the house out to help with the payments, and putting the trailer somewhere else on the property for you to live in. Also, if you don't get your SS disability, make sure you have an experienced SSD attorney review your file prior to filing your appeal.
    Answer Applies to: Montana
    Replied: 4/26/2011
    Bankruptcy Law Office of Robert Weed
    Bankruptcy Law Office of Robert Weed | Robert Weed
    This really depends on what state you are in.
    Answer Applies to: Virginia
    Replied: 7/12/2013
    Carballo Law Offices
    Carballo Law Offices | Tony E. Carballo
    A mortgage is a secured debt so while you can stop the sale by filing a bankruptcy case the bank will seek permission from the bankruptcy court within a few months to foreclose unless you pay the back payments as part of a Chapter 13 plan of up to 5 years and future regular payments after filing for bankruptcy. You should run to the office of a local bankruptcy lawyer for advice on your options before it is too late. You must have adequate income to propose a Chapter 13 plan. Maybe you can rent the house and live in a trailer so you can have enough income.
    Answer Applies to: California
    Replied: 4/25/2011
    Ferguson & Ferguson
    Ferguson & Ferguson | Randy W. Ferguson
    You have a number of tough issues. Bankruptcy may be an option. You should schedule a free bankruptcy consultation as soon as possible. The land you own outside the mortgage will be an issue based on its value.
    Answer Applies to: Alabama
    Replied: 4/25/2011
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