Legal Question in Bankruptcy in Iowa
Our house was really unsafe for our children so we left it and are waiting for the bank to foreclose. Just wondered if we will probably have to file bankruptcy because of the money still owed on the house and if we have a fairly new car loan what will happen to that...thanks!
Asked on 9/18/12, 8:38 pm
1 Answer from Attorneys
Robert Luedeman
solo practitioner
If the creditor proceeds without redemption you won't have to pay the deficiency, if any. As far as your car loan if you stay current on your payments and reaffirm you can usually keep it in a bankruptcy.
Answered on 9/22/12, 11:22 am
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