bankruptcy unsecured debt

Mortgage Deficiency and insolvency Unsecured?

I have 2 properties, a rental and my own personal residence. I fell on my behind the property and The bank sued me. They were given a verdict for the property is worth 180k and 120k. Before the sale the sheriff I reported in Chapter 7 bankruptcy. I have 15k nonexempt equity in my house. The bank has applied to sell the court for relief from the stay and will eventually be able to set the property at an auction. I expect them at least 60k to be short. My question is this deficiency to some of the unsecured creditors in Chapter 7, against the trustees they will want is the 15k in equity, I am applying for? I have no other unsecured debts.

Yes, but only if your state allows it to give up (in some states, a shortcoming of the party's house To prohibit collection). Do you have an attorney. You should be too concerned about that 15k does not exempt equity in your principal residence. Most bankruptcy lawyers advise Filing Ch 13 instead of Ch 7 if you keep your primary residence to. If you have a bankruptcy lawyer, ask your bankruptcy lawyer for more information about your case. If you still have no bankruptcy lawyer, I think you should seriously consider getting one. You can not in danger of losing assets, you lose.

Bankruptcy Debt Relief Secured Debt vs Unsecured Debt

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