Experienced California Licensed Attorney John Habashy explains Chapter 7 and Chapter 13 bankruptcy. This will help you on your decision to file bankruptcy. Please read below for more information or simply call 1-877-529-5090 to speak with one of our Senior Paralegals. Chapter 7 is the easiest and most sought after bankruptcy filling in the United States. Established under Title 11 — Bankruptcy Court, Chapter 7 enables debtors, such as distressed borrowers, to unload all their debts in exchange for a fresh start. Debtor’s assets are collected and liquidated to satisfy outstanding debts depending on rank, amount and priority. Both federal and state laws provide exemptions to protect life style of debtor. Usually, most Chapter 7 cases take anywhere from 3 month to 6 month before debt is discharged. Depending on the district of filing, certain debts will not be discharged, such as student loans and back owed taxes. Securities securing secured debts, such as real property in mortgage loans, will revert back to the original creditor. Unsecured debt, such as credit card purchases and medical bills, will be dropped unless creditors can demonstrate a pattern of ill intentions and evil doing. Previous judgments and child support payments can be discharged through Chapter 7 bankruptcy. All discharged debts become invalid releasing debtor from liability of repayment. Creditors of discharged debts can’t pursue debtors for payment or collection. Very rarely, the court may grant an …
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If your parents are no in default they will not be foreclosed on.
Those sites are pulling information off of other computers and it is often mixed up in the process.
If your parents have a question they can contact the lender themselves and verify that they are not under foreclosure.
The lawyer did not necessarily put the information on the website. The fact is, filing bankruptcy is public record. It is very legal. Once the bankruptcy is filed, anybody can access that information.
I agree your parents need to contact your lender’s bankruptcy department. They will give them more accurate info then a website.
Many times the lawyers don’t know what is going on either.