Legal Question in Bankruptcy in California

My friend (the Defendant) received on 4/12/13 a document from a Florida court stating “Plantiff prays that court issue a Final Judgment of Deficiency” (in amount of $138,000, for a past foreclosure note). Does my friend need to start Chapter 7 bankruptcy proceedings now, or can she wait until a Final Judgment of Deficiency is rendered by the court?

Asked on 4/25/13, 4:32 pm

1 Answer from Attorneys

Todd Mannis Law Offices of Joseph A. Mannis
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If she has been served, she wouldn't technically NEED to file now, and she could wait until a judgment is rendered, but the question I have is why would she? She's already been served, the train has left the station, and the judgment is coming. Unless there is another compelling reason to wait until the eleventh hour, that I'm unaware of, I don't see the point. Sounds like bankruptcy is a given at this point - what is the point of waiting?

Todd Mannis, Esq.

Calabasas, California

Tel 818 591-9890

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Answered on 4/25/13, 4:36 pm

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