Legal Question in Bankruptcy in Virginia

I have a deed of trust on a persons home for a secured loan that i did and now they are filing A CHAPTER 7 BANKRUPTCY IF I HAVE THE DEED OF TRUST AS SECURITY SECONDARY LIEN HOLDER CAN THEY GET BY WITHOUT PAYING ME.

Asked on 11/23/11, 8:30 am

1 Answer from Attorneys

Michael E. Hendrickson Attorney & Counsellor at Law

Hard to say without knowing the total amount of the debt which the filer is seeking to discharge, the amount of your secured loan and that

of the first priority lienholder as well as other factors associated with the matter, but irrespective of these, you would probably still want to file a motion with

the bankruptcy trustee to lift the automatic stay and to oppose any inclusion

of your secured loan in the proposed Chapter 7 discharge.

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Answered on 11/23/11, 5:41 pm


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