Do I need to file an amended bankruptcy?

Bankruptcy and Debt 10 views 4 answers
I filed bankruptcy in 2013, which was dismissed due to a missed payment. I moved out of the primary home at that time, because I was planning to surrender it to the bank. I have recently refiled and did not list the home as secured because I thought the bank had it. I have not made a payment in over 2 years and had no intentions of trying to keep the house. The bank attorney sent me a letter that they will be seeking a Motion for Relief from Stay. Do I need to file an amended return even if I do not want the house?

Attorney Answers

4
Blake Brewer ·
It may not be too late to get an attorney to represent you. Most of their fees can be paid off as part of your plan of debt reorganization. You need to amend your present schedules to reflect that you still own the house (if that is true). These are submitted under oath and under penalty of perjury so they need to be accurate. You may or may not want to respond to the motion for relief depending upon your intent with regard to the house.
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Bradley David MccormackBankruptcy AttorneyKansas City, MO ·
Until there is a foreclosure the house is in your name and the mortgage is a secured debt. It needs to be listed as secured so that your schedules are accurate. It is wise at this point to find an attorney to help you amend the schedules.
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Lawrence Lobb ·
Your bankruptcy documents are sworn to under oath that they are a true and accurate representation of all of your assets and liabilities. You are the legal owner of the real estate until the foreclosure court enters a judgment of foreclosure and sale, the house is sold at sheriff's sale, and the sale is then cofirmed by the court. As such, the property is still your asset at this point and the debt is still a secured debt for which you have liability. Your mortgage lender's motion for relief is simply seeking permission to continue on in that process but will not in and of itself relieve you from liability. Even if you do not intend to keep the house, I strongly suggest that you amend your bankruptcy schedules and plan to properly reflect the treatment of the asset and secured debt. Doing so benefits you in that you would then properly indicate your intent regarding the property (i.e., retain or surrender) and also how the debt will be addressed. There are nuances in doing so that an attorney can be of great benefit to you in handling. I recommend that you speak with a local attorney as soon as possible. Best of luck to you.
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tephen J. CostelloBankruptcy AttorneyCarpentersville, IL ·
Technically yes you should amend. If you have not yet had your meeting with your trustee, it is very important that you inform your trustee.
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