Is bankruptcy a solution if the lender wants to go after me?
I tried to short sale my house but one of the lenders didn’t approve it so I end up in foreclosure. One of the banks told me that they are going after me. Is bankruptcy a solution?
Lorena, you can review bankruptcy information at their offical website @ www.usbankruptcy.gov This is an excellent site to find out how each chapter works and what is required by the new bankruptcy laws. You can contact a local bankruptcy attorney and see if you can get in to see one that offers a first time free consultation. They will review your income for the last 6 months, list of all your debts, assets and last 3 or 4 years of taxes, depending on what they require. If they have already foreclosed and you owe a balance on the note, yes, they can come after you and sue you, get a judgement against you and garnish you wages if your state allows, as well as bank accounts up to 100% Contact an attorney and see what they can do for you. Good Luck!
Sign a Promissory Note or Let A Property Go to Foreclosure?
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