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Consumer Bankruptcy : Chapter 7, Chapter 13, Protection From Claims of Creditors
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  #1  
Old 10-23-2009, 12:49 PM
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Bankruptcy & real estate

What is the name of your state (only U.S. law)? FLORIDA

WHAT HAPPENS IF I FILE BANKRUPTCY IN FLORIDA BUT HAVE A REAL ESTATE IN GEORGIA?
  #2  
Old 10-23-2009, 03:31 PM
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Join Date: May 2001
Posts: 6,453
You disclose the property on your petition.
What happens after that depends on which chapter you file, the amount of equity in the property, your intentions {surrender or reaffirm},etc.
Some details will help answer your question.
  #3  
Old 10-26-2009, 03:14 PM
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Thanks very much for your answer.
It will be chapter 7 - no equity on the property - property will be surrendered.
Will any remaining pending balance be eliminated?
  #4  
Old 10-26-2009, 05:22 PM
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Any deficency balance will be considered unsecured debt and discharged in your Chapter 7.
  #5  
Old 10-27-2009, 06:30 PM
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I really appreciate your help. It completely clarified my doubts.
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