Legal Question in Bankruptcy in Kentucky

Hi my wife and I just received foreclosure papers from our bank I went to the bank to pay the amount we are behind but they told me sorry they want the full amount now we are thinking of filing bankruptcy our credit sucks so we are fairly sure getting a loan before they do all they have to do would be too late and we do not want to lose our home any help and or lawyers name and numbers would be greatly appreciated

Thanks


Asked on 9/29/09, 4:48 pm

1 Answer from Attorneys
Gregory Napier Troutman & Napier, PLLC

Hello,

Your loan agreement probably had an "acceleration" clause that allows them to take this stance. Your best bet is to look into bankruptcy. An attorney, such as myself, can help you figure out if a Chapter 7 or a Chapter 13 would be the best way to go and what your chances are of keeping your home. You can file bankruptcy wihtout an attorney, but it can be pretty complicated and mistakes are costly. I encourage you to look for a bankruptcy attorney who will provide a free initial consult.

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Answered on 10/05/09, 11:43 am


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